India has always been a labor-intensive country, which takes a little extra time to accept any new technology. Aided by easy availability of affordable domestic help, washing machines’ growth rate has been slow. However, the situation is changing rapidly in the country with increasing costs of maintaining a servant and security concerns.
The washing machines market in India is expected to witness healthy growth rates for the next 5 years. The market for the residential washing machines in India is expected to reach `836 crore (USD 1.50 billion) by 2017, according to TechSci Research. The sales of fully automatic washing machines are expected to witness a higher growth rate in comparison to semi-automatic washing machines on account of increasing working population.
The growing disposable income of households in the country has been improving the standard of living of the people, which in turn is driving sales of the residential washing machines in the country. The overall consumer durables market in India has witnessed double digit growth which is expected to continue its rhythm for at least the next 5 years.