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Consumer electronics companies upbeat about growth

Consumer electronics companies upbeat about growth

Author | exchange4media News Service | Thursday, Dec 26,2002 6:48 AM

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Consumer electronics companies upbeat about growth

Upbeat about the current growth in the segment, the consumer electronics manufacturers have set optimistic targets for themselves for the next year.

The industry proposes to exit the year 2002 with a growth of about 20 per cent for the colour television (CTV) category. According to Consumer Electronics and TV Manufacturers' Association (CETMA) officials the growth is expected to be around 67.5 lakh units, up from the 54 lakh units sold last year.

Growth will be mainly driven by events. Further, flat TVs will also account for the increase in growth for the segment. According to sources this year, the market share of flat TVs is expected to be more than eight per cent.

With a plethora of new players entering the air-conditioner segment next year the category too is expected to witness high growth. The CTV exports are also expected to grow by at least 25 per cent from the current 5 lakh CTV sets.

Drawing attention to the prevailing high rates of taxation, the industry sources said that, there is a need to implement some of its recommendations in the forthcoming Budget.

Some of these recommendations include reduction in customs duty on colour picture tubes to at least 20 per cent. It has also suggested that the excise duty on air-conditioners should be reduced to 16 per cent to bring it on a par with other consumer durables such as refrigerators and CTVs.

Another important suggestion was that the abatement for excise purposes should be increased on CTVs to 40 per cent of MRP from the existing 35 per cent. Currently, all other consumer durables such as refrigerators, washing machines, microwave ovens and audio systems, which have the same parameters for abatement, have an abatement of 40 per cent.

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