"We would have to immediately hike our price. We are importing the compressors for our air conditioners, which are fully based on invertor technology. Besides we are also importing high end big door refrigerator (500 ltrs)," said LG Business Head Vijay Babu.While, Haier India president Eric Braganza said that this would led to increase of prices and may have impact on the coming festive season sales, which constitutes around 30 per cent sales of the industry. ... as it is the dollar has gone up... might effect demand during the festival season," said Braganza.However, Godrej Appliances Business Head and EVP Kamal Nandi said that there would be little impact on the industry as it would only impact large size imported products which constitutes very less in numbers. "Overall, duty increase is going to help in fiscal prudence and will strengthen the rupee, which will even benefit the industry at large," said Mirc Electronics MD Vijay Mansukhani.He also said that increase in customs duty on AC would not have much impact as this is not the season for AC sales.

Source: Economic Times September 26, 2018 17:26 UTC