India's Consumer Electronics Surge: Poised for Global Dominance by 2027

India's appliances and consumer electronics market is set to become the fourth-largest globally by FY27, with revenues reaching Rs 3 lakh crore by FY29. Key growth drivers include rising household incomes, rural market ambitions, localized manufacturing, AI advancements, and energy efficiency reforms. Major players are investing heavily to meet these demands.

The Indian appliances and consumer electronics industry is on track to become the fourth-largest market in the world by FY27, with projected revenues of Rs 3 lakh crore by FY29.

Key drivers of this growth include rising income levels, aspirations in rural areas, and easier access to consumer finance.

Companies are focusing on localization, manufacturing capacity expansion, and AI-driven innovations. Industry leaders emphasize strengthening the domestic component ecosystem while adapting to energy efficiency norms and consumer preferences for enhanced offerings.

(With inputs from agencies.)