India’s consumer durables market is expected to witness significant growth to touch Rs 3-3.25 lakh crore by 2030, creating an additional Rs 40,000-50,000 crore opportunity for domestic value addition across materials and component manufacturing, a joint report by Boston Consulting Group (BCG) and industry body CII said.
The report said India is expected to remain one of the world’s fastest-growing consumer durables markets over the next five years, driven by rising household penetration, growing nuclearisation of families, higher incomes, easier financing, wider distribution and increasing premiumisation.
In comparison, China, the world’s largest market, is expected to grow at 1-2 per cent annually through 2030, while the US is projected to expand by 3 per cent and Japan by 1-3 per cent, according to the report.
“India is set to remain the fastest-growing major consumer durables market, growing 8-10 per cent annually till 2030 and reach USD 30-35 billion by 2030, with Room …
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