Due to the fear of the spread of COVID-19 via air-conditioned or less ventilated spaces outcomes in higher sales of the table fan and pedestal fans said the manufacturers. Both the fans counted on the total revenue of 18 to 20 percent whereas it enhances by 25% in summers. The demand of the pedestal fans is higher as declared by the Indian Fan Manufacturers Association (IFMA) call for a reduction in the current GST rate on the ceiling and movable Fans seems a fair demand at the very outset. During COVID-19 the fan industry loses 35% in annual sales due to lockdown. But the market has revived now in context to the Indian Society of Heating, Refrigerating, and Air Conditioning Engineers (ISHRAE) giving safety measures to address the transmission of the virus via heating, ventilation, and air conditioning (HAVC) and is an opportunity for the fan suppliers.
Read also: IFMA Requests GST Rate Reduction to 12% from 18% “at 18%, it is adversely impacting the industry as well as the entire supply chain. Also, fans improve ventilation, which has been established as a key intervention to prevent the spread of Covid-19 and other viruses,”.
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AuthorI am Amit Gupta. I like to write posts about chartered accountants' topic. |