24 September 2026: The Confederation of Indian Industry (CII), in partnership with Boston Consulting Group (BCG), today launched a report on India’s Consumer Durables Market at CII Consumer Electronics & Durables Summit 2026 on 24 Sept 2026, highlighting the sector’s significant growth potential and the opportunity to deepen domestic value creation. The report projects India’s consumer durables market to grow at 8–10% annually through 2030, reaching Rs 3 – 3.25 Lakh crore, driven by rising household incomes, increasing access to financing, changing consumption patterns and significant under-penetration across key categories.
The report highlights that this market expansion could create an incremental Rs 40,000 – 50,000 crore opportunity for domestic value addition across materials and conversion over the next five years. However, at the current trajectory of localisation, a significant share of this opportunity could continue to be met through imports by 2030. The report identifies deeper localisation of critical components as an important priority, with technology access and scale economics emerging as key barriers.
The report notes that bill-of-materials (BOM) localisation currently ranges from 25–70% across major categories, with televisions and room air conditioners at the lower end, while refrigerators and washing machines have relatively higher levels of localisation. Critical components such as TV display panels, RAC compressors, refrigerator insulation and washing-machine motors continue to depend significantly on global supply chains.
Mr Mukundan Menon, Chairman, CII National Committee on Consumer Electronics & Durables and Managing Director, Voltas Ltd., said, “India has a significant opportunity to use the scale of its domestic market to build globally competitive manufacturing capabilities. The priorities ahead are to expand domestic demand, strengthen the component ecosystem and ensure that Indian products can meet the standards required in international markets.” He highlighted the significant headroom for growth in domestic consumption and noted that increasing penetration across categories would help create the scale required to strengthen India's manufacturing base.
Mr B Thiagarajan, Chairman, CII Skills Steering Council and Managing Director, Blue Star Ltd., said, “The journey towards greater energy efficiency has demonstrated the value of close consultation between Government and industry. As India moves towards greater domestic manufacturing and import substitution, achieving scale and cost competitiveness will be essential for the industry to serve a price-sensitive domestic market while building capabilities for global markets.” He noted that greater localisation requires the industry to absorb the initial costs associated with building domestic capabilities while continuing to maintain affordability for Indian consumers.
Mr Abheek Singhi, Managing Director & Senior Partner, BCG, said, “India’s consumer durables market is projected to grow at 8–10% annually to reach Rs 3 – 3.25 Lakh crore by 2030. But the opportunity is much larger than domestic market growth alone. The next phase must be about building deeper capabilities across components, technology, product design and manufacturing, and using India’s domestic scale as a springboard for global competitiveness. The priority is to make localization commercially viable, build scale and cost competitiveness, and enable Indian companies to move from manufacturing for India to designing and building for the world.”
The report further highlights that deeper localisation will need to remain commercially viable while keeping products affordable for Indian consumers. With India continuing to be a price-sensitive market, the report identifies technology partnerships and capability building, scaled component manufacturing, stronger R&D and product innovation, AI-led productivity improvements and a predictable regulatory environment as important enablers for long-term industry investment.
The report highlights significant penetration headroom across large-appliance categories, with household penetration in India remaining 20–90 percentage points below regional peers. This under-penetration, combined with rising incomes, financing availability and evolving consumption patterns, provides a substantial foundation for sustained domestic demand through 2030.
The report also identifies critical components as the next frontier for localisation. Technology access, scale and cost competitiveness remain key barriers to localising components such as RAC compressors, TV display panels, refrigerator insulation and washing-machine motors. Addressing these gaps would be important for increasing domestic value addition and reducing dependence on global supply chains.
The report provides a forward-looking view of India’s consumer durables opportunity through 2030, examining the structural drivers of domestic demand, gaps in the component ecosystem and the opportunity to strengthen India’s position as a competitive global manufacturing and export base. It highlights the need for coordinated action across driving localisation, scaling exports, strengthening R&D and product innovation, leveraging AI for cost and efficiency gains, and establishing a predictable regulatory roadmap.