Recently, the Indian government announced that it will increase the import tariffs on 19 kinds of 'non-essential commodities' and increase the tariffs on imported goods such as air conditioners, refrigerators, washing machines, etc. This move has a greater impact on Chinese home appliance manufacturers.
Prior to this, India had implemented a uniform tariff on goods and services on July 1, 2017. The pressure on the export of consumer electronics to India continued to increase. In mid-December 2017, India announced the import tariffs for televisions and microwave ovens. The previous 10% increased to 20%.
India's tariff increase, China and South Korea's home appliance brands are greatly affected. The Indian market is not a huge market in China, China's home appliance brands Haier, Midea, TCL, etc. have settled in India. In the face of tariff increases, they choose Established a factory in India to avoid the impact of tariffs on profits. In July 2017, Midea announced plans to invest 8 billion rubles (about 123.5 million US dollars) in the construction of home appliance manufacturing plants in Pune, India; in November of the same year, Haier in India The industrial park in Pune, Hararestra, was held for production; on September 7, 2018, Haier held a signing ceremony in the second industrial park in northern India...
In the short term, India's tariff increase will affect the overseas journey of Chinese home appliance brands.
