Indian Government Considers Easing Import Norms for AC Components

Government Considers Easing Import Norms for AC Components

India: Shares of appliance manufacturers Blue Star and Voltas rose by up to 4 percent following reports that the Indian government may ease import regulations for key air conditioner and refrigerator components. The Ministry of Consumer Affairs is reportedly considering relaxing Bureau of Indian Standards (BIS) requirements for importing air conditioner compressors with capacities below 2 tonnes. This potential policy change is aimed at improving domestic supply and reducing production costs for local manufacturers, particularly ahead of the summer season when demand typically increases. 

In addition to compressors, the government is also reviewing the possibility of easing import norms for grooved copper tubes, a key component in air conditioners. If implemented, these changes could support companies like Blue Star and Voltas in managing higher seasonal demand more effectively. On the stock market, Blue Star shares opened at Rs 2,041 (approximately USD 23.8), reaching a high of Rs 2,092.40 (approximately USD 25.2) and a low of Rs 2,030.40 (approximately USD 24.4), remaining below its 52-week high of Rs 2,417 (approximately USD 28.2). Voltas shares opened at Rs 1,320.00 (approximately USD 15.4), hitting a high of Rs 1,351.60 (approximately USD 16.28) and a low of Rs 1,302.50 (approximately USD 15.6), also trading below its 52-week peak of Rs 1,944.90 (approximately USD 22.7). 

Source: Business Upturn