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India’s consumer durables market to reach Rs 3.25 lakh crore by 2030: CII-BCG report
Sep-28-2026

Industry body Confederation of Indian Industry (CII) and Boston Consulting Group (BCG), in their joint report, has noted that that India's consumer durables market is expected to witness significant growth to touch Rs 3-3.25 lakh crore by 2030, creating an additional Rs 40,000-50,000 crore opportunity for domestic value addition across materials and component manufacturing. The report said that India is expected to remain one of the world's fastest-growing consumer durables markets over the next five years, driven by rising household penetration, growing nuclearization of families, higher incomes, easier financing, wider distribution and increasing premiumisation. 

However, the report cautioned that a significant portion of this opportunity could continue to be met through imports unless domestic component and material capacities are scaled up. It said that localisation of bill of materials (BOM) currently ranges between 25% and 70% across categories, with televisions and air conditioners at the lower end and refrigerators and washing machines at the higher end. This is estimated to rise to 30-80% by 2030 as domestic component and material capacities are built up. Meanwhile, the report pointed that there are still localisation gaps in key components such as TV display panels, RAC compressors, refrigerator insulation and washing machine motors.

On India’s durable's exports, the report indicated that while durable's exports are growing, they remain concentrated in neighbouring markets and regions such as SAARC countries and the UAE, with limited presence in major global import markets. It added that the country faces a material cost disadvantage as compared to leading exporters, driven by scale, backward integration, technology & policy support gaps, and compounded by limited testing, certification & compliance infrastructure. To address these challenges, it has suggested building a coordinated export ecosystem, including manufacturing clusters linked to component ecosystems, supporting joint ventures and technology acquisition, sharing testing and certification infrastructure, and lowering financing costs.

Emphasizing the importance of research and development (R&D), the report said that the country’s top listed durables players invest less than 1% of revenue in R&D, compared with 1-4% for global peers, which limits the shift from manufacturing scale to technology leadership. On technology adoption, it said Indian business leaders are more optimistic about the returns from artificial intelligence than their global counterparts, but workforce readiness remains limited. Besides, generative AI and agentic AI technologies could improve efficiency across manufacturing, supply chains, product development and customer service, helping companies enhance competitiveness and support export growth.
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