The per unit cost of TVs will go up by at least Rs 2000-3000 starting April 1, 2021, as per market reports. In the last eight months, TV prices have soared significantly causing a net escalation of almost INR 3000-4000 per unit.
Besides the prices of TV panels (open cell) which have been on a continuous rise, mainly due to supply shortage by global vendors. Other factors that are collectively leading to this surge are – a hike in custom duty, rise in cost of input materials like copper, aluminum and steel and an increase in ocean and air freight charges. Owing to this, the local TV manufacturers have been constantly appealing the government to take up TV manufacturing under the PLI Scheme.
TVs comprise a large chunk of the consumer electronics market with over 85% market penetration rate. It is preempted that there will be a boom in the television manufacturing sector, including global brands from across the world, that will now look to partner with local manufacturers. If the industry is looking to establish a global competitiveness and gain cost advantage, then PLI must be extended to TVs also.