What is the growth of consumer durable service sector in India?

The consumer durable service sector in India is a large and growing market that attracts both domestic and foreign players. The sector includes a wide range of products such as appliances, electronics, and white goods.

According to IBEF, the Indian appliances and consumer electronics industry stood at US$ 9.84 billion in 2021, and is expected to more than double to reach Rs. 1.48 lakh crore (US$ 21.18 billion) by 2025.

The growth of the sector is driven by factors such as rising disposable income, technological innovation, urbanisation, and increasing consumer awareness. The sector is also witnessing a shift from unorganised to organised players, as well as increasing adoption of artificial intelligence and automation in manufacturing processes.

As the number of consumers increases, the need for services related to goods will also rise as a result. This ensures that the service sector will grow steadily over the next 5 to 10 years.