NEW DELHI: Consumer sturdy makers would possibly go for a worth hike prior to the festive season gross sales to partially go on the higher import expenses because of fall in rupee.
Sony, Panasonic and Godrej stated they are intently observing the forex movement because the rupee these days crossed a historic low of 70.32 against the USA dollar.
"The rupee crossing 70 per dollar is putting a lot of pressure on us in terms of input costs. We are evaluating the impact on us, and if it remains like this, we would have to go for a price hike in the near future," Godrej Appliances Business Head and Executive VP Kamal Nandi told PTI.
He further stated there is usually a pre-festive price upward thrust if rupee is 70 plus and a call in this would be taken by August-end.
Echoing equivalent perspectives, President and CEO Panasonic India and South Asia Manish Sharma stated the sinking rupee is putting drive on the overall input costs resulting in a relentless upward thrust in commodity prices.
"If this trend soon hits a tipping point, it will have an impact on price within the white goods industry, especially now when we have begun our descent into the festive season," stated Sharma.
Last month, a number of firms had introduced to hike prices of TV panels of 32-inch and above to offset the hostile have an effect on of the falling rupee.
Like others, Sony could also be intently observing the situation and will take any resolution at a suitable time.
"We are closely watching the situation at the moment and are yet to take a decision on price correction for our televisions," stated Sony India Head of Sales Satish Padmanabhan.
Haier too laid out equivalent plans.
"We may have to look at a price increase across a few categories. But, considering the current critical weather conditions in Kerala and other key parts of the country, we will wait for the situation to get better before making any announcements," stated Haier India president Eric Braganza.
Sony, Panasonic and Godrej stated they are intently observing the forex movement because the rupee these days crossed a historic low of 70.32 against the USA dollar.
"The rupee crossing 70 per dollar is putting a lot of pressure on us in terms of input costs. We are evaluating the impact on us, and if it remains like this, we would have to go for a price hike in the near future," Godrej Appliances Business Head and Executive VP Kamal Nandi told PTI.
He further stated there is usually a pre-festive price upward thrust if rupee is 70 plus and a call in this would be taken by August-end.
Echoing equivalent perspectives, President and CEO Panasonic India and South Asia Manish Sharma stated the sinking rupee is putting drive on the overall input costs resulting in a relentless upward thrust in commodity prices.
"If this trend soon hits a tipping point, it will have an impact on price within the white goods industry, especially now when we have begun our descent into the festive season," stated Sharma.
Last month, a number of firms had introduced to hike prices of TV panels of 32-inch and above to offset the hostile have an effect on of the falling rupee.
Like others, Sony could also be intently observing the situation and will take any resolution at a suitable time.
"We are closely watching the situation at the moment and are yet to take a decision on price correction for our televisions," stated Sony India Head of Sales Satish Padmanabhan.
Haier too laid out equivalent plans.
"We may have to look at a price increase across a few categories. But, considering the current critical weather conditions in Kerala and other key parts of the country, we will wait for the situation to get better before making any announcements," stated Haier India president Eric Braganza.
As rupee falls, consumer durables may see hike
![As rupee falls, consumer durables may see hike]()
Reviewed by Kailash
on
August 18, 2018
Rating:
