India's technical consumer goods market grew 11% in value during H1 2024, led by small/major appliances and smartphones.
India's technical consumer goods market grew by 11% in value and 1% in volume during H1 2024, driven by small domestic appliances (29% increase) and major domestic appliances (18% growth). The market is valued at Rs 2 lakh crore ($23bn) with over 125 million units sold. The telecom segment saw a 10% increase in value, with smartphones experiencing a 12% rise in value. GfK India's head of customer success, Anant Jain, noted that India is the fastest-growing large market in the technical consumer goods industry. This premiumisation trend indicates that consumers are purchasing high-value goods, while sales of entry-to-mid-segment products decrease.
August 12, 2024
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