India's Appliance Makers Hike Prices Up to 8% Ahead of Festive Season
Ahead of the festive season, many leading appliances and consumer electronics makers in India have announced price hikes on their products. The increases will range from 5-8% effective October 1, due to rising costs of essential materials such as copper, steel, aluminum, crude derivatives, and currency volatility.
The industry's third round of price hikes this year is largely attributed to sustained inflation in key inputs like copper, aluminum, steel, and crude oil derivatives. Additionally, higher freight costs have also contributed to the price revisions.
Some companies, such as Blue Star and Godrej Appliances, have already announced or confirmed price hikes ranging from 4-10% across categories. Panasonic is still evaluating the situation before making a decision on any increase.