Consumer durables growth to pick in last quarter of FY20, says official

Growth of consumer durables segment is expected to pick up in the last quarter taking the sector's expansion in 2019-20 to 15 per cent, an industry official said on Wednesday.

The expert also said that the economic slowdown has not affected the sector, which grew by 10 per cent in the first three quarters of 2019-20, as people continue to spend on consumer products like ACs, refrigerators, washing machines and other appliances.

The last quarter would be much better than first three, so overall growth in the current fiscal year is expected to be over 15 per cent, Sanjeev Jain, National Sales Head, Godrej Appliances, told reporters here. The sector has grown at around 10 per cent in the current financial year, he added.

Asked about the effect of economic slowdown, Jain said that this has not affected the sector because people are spending on their needs of consumer products.

Talking about the growth in the next five years, he said the consumer durable sector is expected to double the ..