Indian Appliance Prices Expected to Rise Another 15% Amid Copper Cost Surge

Appliance prices in India are expected to rise another 15% by January due to surging copper costs. This is the third round of price revisions this year for appliance makers, who attribute the increases to higher costs of copper, aluminum, steel, and crude derivatives, as well as freight expenses and currency fluctuations.

The industry has started the festive period on a positive note, with manufacturers reporting healthy sales during Onam in southern India. Companies expect demand to remain firm through Navratri and Diwali as consumers increasingly opt for larger-capacity, feature-rich, energy-efficient, and connected appliances.

Haiyer Appliances India CEO N S Satish expects the industry to grow 10-15% during the festive season, while his own company anticipates a 30-35% increase in value sales and around 20% rise in unit sales. Consumers who have already planned purchases may choose lower-capacity models or use EMI financing to upgrade to premium products.

Premium products are driving demand, with LG Electronics India's Co-Chief Sales & Marketing Officer Sanjay Chitkara saying the company is optimistic about the festive season, citing encouraging pre-festive enquiries. Sony India Managing Director Sunil Nayyar expects 15-20% value growth during the period, driven by premium products and new launches.