The government’s move to reinforce import curbs on TV sets with the objective to promote local manufacturing as a part of Atmanirbhar Bharat has resulted in more than 21,000 large screen television sets being stuck at India’s ports.
The re-introduction of import curbs on TV sets on July 30 by the Centre for the first time after 20 years have led leading manufacturers such as Samsung, LG, Sony and TCL struggling to get the import licences.
As per reports, Samsung India, which currently imports 35% of the television sets, is likely to be most affected amid this move.
The manufacturers, amid the downfall caused by the pandemic, hoped to make a comeback in their peak season i.e festive season. However, with the new licence rule in place, they may have to settle for less in terms of sale as about 35% of television sets sold in the country are imported.
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The industry has already started to experience a shortage in inventory with no visibility on availability.
While Sony India claims to be all geared up for the festive season as 99% of sony televisions are manufactured in India, companies like Samsung, LG and TCL still await a response on the licence application and inform of disruption in the supply chain due to lack of inventory.
Meanwhile, the global shortage of panels has also hit the television sets adversely.
“Panel prices have gone up too, but unless the supply situation of panels improves, television availability and shortage will aggravate by Diwali,” said Lloyd CEO Shashi Arora.