Mirc Electronics, which sells consumer durables under Onida brand, plans to launch eight new smart TV models this fiscal and expects its air conditioner business to grow at 35-40 percent, aided by intense summer across the country.
The home-grown brand that faces intense competition from Korean and Japanese companies expects the new models to hit the market in next two months. Mirc Electronics recently commissioned a facility to manufacture LCD panels at Wada in Maharashtra. The company also plans to set up an automatic washing machine manufacturing line either at its Wada or Roorkee plant.
Kaval Mirchandani, Director, Mirc Electronics told BusinessLine that the company has been working with Amazon and Google to introduce new features in TV and air conditioner models. Supported by Amazon’s Alexa and ViOT (visual internet of things) technology, it recently launched voice-enabled and smart inverter ACs Onyxs and Genio.
The demand for air conditioner is expected to grow 10-15 percent this year from 7-8 percent last fiscal while that of inverter ACs was up 65 percent with increasing disposable incomes and changing lifestyle, said Mirchandani. Despite the good growth, the air conditioner market in India is only 5-6 million as compared to 70 million in China which is incentivizing energy efficient air conditioner models.
Mirchandani suggests, the government should reduce GST on inverter air conditions to 12-18 percent. Currently, air conditioners are charged 28 percent of GST. The major demand for air conditioner is expected to come from Gujarat, Andhra Pradesh and Uttar Pradesh.
Mirchandani said 80 percent of consumer interactions with devices will be non-touch and 50 percent of searches will be through voice by 2020.―The Hindu Business Line