The central government is in the mood to ban the import of refrigerators to promote Make in India. One report claims two sources in the industry. According to the report, the government may take a decision in the next one month. Let me tell you that foreign companies like Samsung and LG buy most of the refrigerators from abroad.
What is the government's plan:
According to the source, the government's emphasis is on supporting all the companies that are manufacturing refrigerators in India, not bringing them to India.
However, there has been no official comment from the government. At the same time, a spokesman for Samsung and LG did not immediately respond to a request for comment.
નું 5 billion market:
The government estimates that India's refrigerator market is worth more than $ 5 billion, with foreign companies such as Samsung and LG competing with local companies, including Tata Group's Voltas Limited.
The source said India's annual refrigerator production capacity is about 24 million units, but demand was only 15 million, part of which is met by imports.
Let me tell you that the government does not disclose the import figures of refrigerators. However, according to other sources, companies like Samsung and LG import thousands of high-end refrigerators annually. Demand for this specialty has grown significantly as a result of recent corporate scandals.
