The government’s LTC Cash Voucher Scheme and Rs 10,000 festival advance to its employees will provide more liquidity to the customers for discretionary spends and boost demand, said consumer electronics and appliance industry players.
The move will help the industry, which is now witnessing encouraging signs of revival helped by factors such as pent-up demand and normal monsoon boosting agricultural output, according to the Consumer Electronics and Appliances Manufacturers Association (CEAMA).
“The special festival advance schemes will provide more liquidity to the customers for discretionary spends. With the upcoming festive season, this will augur well for the consumer durables segment,” said CEAMA President Kamal Nandi.
Traditionally, the festive season, which starts in the northern region from Dussehra and goes up to Diwali, roughly accounts up to 25 per cent of the total sales, as the Indian customers make many of their big-ticket purchases such as appliances during the festive season.
During the pandemic, consumers have appreciated the value appliances add to their lives as they are looking for comfort and convenience at home with the adoption of the ‘work from home’ format.
“The industry is