Budget effect: BSH Home Appliances mulls making of electric kitchen chimneys

Chennai, Feb 2 (IANS) With adequate inventory stock, the hike in customs duty for electric kitchen chimneys proposed by Finance Minister Nirmala Sitharaman in the FY24 budget may not pose any pricing challenge in the near future, said a top official of BSH Household Appliances Manufacturing Pvt Ltd.He also said the company may get into local manufacturing of kitchen chimneys."The mention of increase in Custom Duty for Electric Kitchen Chimney might not impact us immediately as we are well prepared with our current inventory to combat any pricing challenges in this product segment, at least for the upcoming months," Neeraj Bahl, MD and CEO told IANS.He said as part of the company's continued strategy for Make-in-India-for-India, we are looking to invest towards manufacturing chimneys in India in near future. Hence the decrease in heat coil prices etc will make this localisation further viable.
--IANS vj/uk/

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