Major Changes in Sourcing of Table, Wall & Pedestal (TPW) Fans in India
The union budget announced on the 1st of February has fundamentally changed the way Indian Fan Majors will source their production for TPW Fans for the upcoming years. With the announcement of increasing import duties from 7.5% to 20 for portable fans, the Indian finance minister has in one go, made domestic production of TPW fans far more attractive as compared to imports which accounted for 50-60% of the organised market volumes in the preceding years.
Additionally, Indians consumers too have strongly adopted to the Prime Minister’s message of “Make in India” & “Aatmanirbhar Bharat” and have increasingly favoured purchase of local goods as compared to imports especially from perceived low quality producers such as China.
Accounting for the aforementioned factors, the table, wall and pedestal fan manufacturers in India are likely to see a surge in demand. At SYS, we plan to stay at the forefront of this and are more than doubling our capacity to manufacture 100,000 units per month with complete sourcing of parts being done locally, to ensure our brand partners are ready for the new India.