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Godrej Appliances sees double-digit growth in the white goods industry during the second half.
An above-normal monsoon expected to trigger rural demand, a pay hike for Central government staff and the postponement of purchase by consumers to the current season will act as favourable factors, said Kamal Nandi, Business Head and Executive Vice-President, Godrej Appliances.
Speaking to Business Line on the sidelines of the launch of premium appliances in the Kerala ahead of the Onam festival, Nandi said the industry growth in the first half was hardly 5-6 per cent across the home appliances segment. The industry had not been doing well in the last season largely due to the weather pattern across the country. The sale of cooling products for the South and Eastern markets had been dull due to excessive rains and winter respectively, while the market in the North performed relatively well during the period.
With the launch of new products and an attractive consumer offer, Nandi said the company aims to garner a business turnover of ₹200 crore this festival season, compared to ₹150 crore in the previous season.
Nationally, the company has set a target of achieving a 30 per cent growth in the current year, with the launch of premium products across all categories. The home appliances major has also earmarked five per cent spend from the turnover for marketing activities this festival season, he added.
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