Leading appliance manufacturers like LG, Samsung, and Daikin are increasing prices by 5-10% ahead of Diwali. The hike is driven by rising costs of essential raw materials such as copper, steel, and aluminium. This move raises concerns about potential impacts on sales growth during the festive season, a period traditionally marked by high consumer demand. Previously, companies aimed to keep price increases minimal to sustain festive sales momentum. Importers and exporters dealing with these materials should monitor these developments closely. For further details, refer to the official publication.
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