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The Rs 6,500-crore Indian fan industry has recorded ten per cent de-growth in sales in the first quarter of this fiscal due to apprehensions over implementation of GST.
According to Rohit Mathur, outgoing chairman, Indian Fan Manufacturers Association, May, June and July are crucial months for the industry, with nearly 30-35 per cent of sales coming from these months.
"We are bracing for tough times. Sales have de-grown by nearly ten per cent in the first quarter of this fiscal on account of GST," Mathur, who is also president, electric fans and pumps, Usha International, told newspersons after the association's annual general meeting here on Wednesday.
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