Appliances to cost 10% more as companies turn energy efficient
The hike could be anywhere between Rs 1,000 to Rs 3,000, with maximum for higher capacity models and those with 5-star ratings.
The hike could be anywhere between Rs 1,000 to Rs 3,000, with maximum for higher capacity models and those with 5-star ratings. Companies are replacing their existing product line-up of washing machines and microwave ovens with star-labelled ones. Prices of refrigerators and air-conditioners too would go up by 8-10% from next year with the government tightening energy norms for these from January.
India’s largest white goods maker by market share, LG Electronics India, has decided to roll out star-rated models for washing machines this month and microwave ovens by Diwali. “There would be some price hike for star-rated products to make them energy efficient, but we expect this will not impact demand since we would explain to consumers the value proposition and savings in buying an energy efficient model,” said Vijaya Babu, vice-president (home appliances and AC), LG.
It would mean, for instance, that 5 star models of 7-kg top load fully automatic washing machine will now be priced at Rs 24,500, from Rs 22,990 earlier, while a semi-automatic washing machine priced at Rs 14,000 will become Rs 15,000.