How has the Covid19 outbreak impacted Voltas Beko and the overall consumer durables industry in India?
Due to the Covid-19 outbreak, the consumer durables industry in India like other industries is also faced with severe setbacks caused by shortage in the supply chain as well as reduced footfall in the marketplace. The industry depends on variety of components that are manufactured in China which now either have restricted entry or stuck in transit hence these becoming costlier by 25 -30 percent.
Voltas has always been ahead of the curve and has tried to become self-reliant by opening the first factory for Voltas Beko in Sanand, Gujarat in January 2020. This facility uses world-class technology to manufacture a wide range of home appliances on Indian soil.
While we have not faced any major supply chain issues, the sales of consumer durables across the industry have taken a hit owing to the lockdown. However, during this period, more and more consumers have been taking care of household chores without support staff at home. We are anticipating that consumers will in the future be more self-reliant and invest in automated, technologically superior, comfort products to ease their lives. We are quite confident that there will be a surge in demand for appliances like dishwashers and washing machines once the lockdown is lifted.
What’s your analysis of the consumer durables industry in India?
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