The Indian fan industry was optimistic of better domestic sales growth during the current fiscal against the 2.47 per cent jump in 2013-14.
The Indian fan industry has started witnessing the benefits of cost push of Chinese fans which squeezed the competitiveness gap to 15-20 per cent against 35 per cent in the past, says a PTI report.
"The Chinese are facing rise in costs due to their currency hardening. Earlier, cost difference of Indian fans with the Chinese was 35 per cent, but now it had reduced to 15-20 per cent," Shekhar Bajaj, Chairman, Indian Fan Manufacturers Association told PTI.
He said with 10 per cent import duty and other logistics, the import cost from China has already reduced to about 20 per cent from 60 per cent in the table fans segment and that the industry was expecting further reduction in imports.
Bajaj said the Indian fan industry was optimistic of better domestic sales growth during the current fiscal against the 2.47 per cent jump in 2013-14.
Moreover, exports had also shown sharp jump of 23 per cent in volume in the first four months of FY'15 against just 6.33 per cent expansion in 2013-14.
Indian fan makers said lack of MFN status with Pakistan had cost $17 million worth of fan export opportunity to the neighbouring country.