India's Consumer Durables Industry Hit with Third Price Hike Amid Global Cost Shock

India's consumer durables industry is bracing for its third price hike of the year, amidst rising global commodity costs. The latest round of increases will see LG, Daikin, Voltas, Samsung, Godrej and other manufacturers raise prices by up to 10% from October. Copper, steel, aluminium and resin costs have surged along with logistics and energy expenses.

The immediate trigger for the price hike is a global cost shock intensified by the prolonged West Asia crisis. However, this episode exposes a deeper issue in an industry expected to grow 8-10% annually to Rs 3-3.25 lakh crore by 2030. India cannot prevent every global commodity shock but can reduce how much of that shock gets passed on to consumers.

According to LG, copper costs have risen 34% this year, resin 17%, steel 24% and aluminium 16%. Higher logistics and energy costs, as well as adverse foreign-exchange movements, also weigh on prices. LG will revise AC prices upwards by 5-7% from 1 October 2026 onwards.