Amid concerns about chip shortages, the consumer durables industry expects double-digit growth in 2022.

Despite concerns about semiconductor shortages and the impact of the expanding Omicron variant on business, India's Rs 75,000 crore appliances and consumer electronics industry will turn on to 2022 with aspirations of double-digit growth. On a year-over-year basis, the industry expects double-digit growth, aided by a likely price correction following the softening of raw material inputs and factors such as good attitudes, pent-up demand, and improving economic conditions.

Furthermore, the market is cheerful due to a movement in consumer behaviour from price consciousness to technologically advanced premium items with quality, value proposition, and safety elements, which has resulted in an increase in demand for home automation devices.