Commodities
India Appliance Makers Hike Prices Amid Rising Costs
Appliance and consumer electronics manufacturers in India are raising prices on various products due to increasing costs of raw materials, crude oil derivatives, freight, and currency exchange volatility.
The latest price hike is expected to take effect from October 1, marking the third increase by the industry this year. Companies have cited rising prices of key inputs such as copper, aluminium, and steel, as well as higher costs of crude oil derivatives and freight.
Manufacturers are increasing prices on air conditioners, LED TVs, washing machines, and other products by between 5 and 8 percent. This decision is likely to impact consumers ahead of the festive season.