Electronics Demand Set to Surge as India Crosses US$3,000 Per Capita GDP: Voltas MD
- brg_news_room
- Feb 25
- 1 min read
INDIA: Voltas is sharpening its positioning as a full-spectrum electronics brand as India approaches a US$3,000 per capita GDP milestone, a level Managing Director Mukundan Menon says historically triggers a decade of strong consumption growth. The company currently holds around 18% share in air conditioners and is targeting 20% by 2030, with annual gains of about 1%. India sells nearly 15 million AC units annually, and with penetration below 10%, Voltas expects 15% CAGR over the next five years, potentially doubling the market to around 30 million units by 2030.
With FY25 revenues of about ₹15,000 crore (~US$1.65 billion) and localisation at 70%, Voltas sees headroom in refrigerators and washing machines, where it operates in single-digit shares. While GST cuts offered limited immediate relief, cost pressures remain. The company maintains adequate capacity and anticipates gradual margin recovery alongside normal summer demand.
Source: Outlook Business
