Nov 13, 2007, 13:09 GMT
Chennai, Nov 13 (IANS) The consumer durables industry has seen tremendous growth across categories, said a top official of a leading consumer durables firm, notwithstanding India's statistics organisation announcing a 7.6 percent decline in growth in the sector.
Ravinder Zutshi, deputy managing director of Samsung India Electronics Pvt Ltd, said: 'We go by privately conducted market research data, which shows that the consumer durables industry has seen tremendous growth across categories.'
Zutshi was visiting the city ahead of the inauguration of the company's second plant at Sriperumbudur by chief minister M. Karunanidhi.
He also said while addressing the media here Tuesday that Samsung itself had a much larger growth rate against the industry average.
'We have seen refrigerators and washing machine sales growing in single digit percentages in the last 6-10 years across the industry. However, this year refrigerators have clocked a growth of 14-16 percent and washing machines at 20.5 percent. Even colour televisions, which were growing at 7-8 percent in the last five years, has seen a growth of 12-14 percent this year,' said Zutshi.
Samsung India had recorded 60 percent growth in refrigerator sales, he said. In flat TVs, the company has grown 29 percent against industry growth of 20 percent and in panel TVs it has seen 340 percent growth against industry average of 47 percent.
During the Diwali season, the company sold goods worth Rs.1 billion, a 41 percent jump from last year for the same period.
© 2007 Indo-Asian News Service
Your Talkback on this Story