ICRA forecasts 20-25% growth for Indian room air-conditioner industry in FY'25

The Indian room air-conditioner industry is expected to grow by 20-25% in 2024-25, reaching 12-12.5 million units, driven by higher temperatures, increasing household demand, urbanization, disposable incomes, and consumer financing options. The government's PLI scheme is boosting localization in the industry.
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