Annual General Meeting
New Era for Fan Industry
“Towards a Sustainable and Energy Efficient Technology”
IFMA represents the interest of over 200 Indian manufacturing entities in the country and is the largest representative body of branded electric fan manufacturers in India. The industry is one of the mass employment generators in the country with more than 10 lakh people being employed in the fan industry. IFMA has been making concerted efforts in increasing the footprint further to reach out to every household in India and we are ever willing to work with the Government in furthering its policies and initiatives in building a comprehensive ecosystem that supports mass scalability and commercial viability of production of fans.
The fan industry today is proud of the fact that we have aligned ourselves with the vision and clarion call of our Hon’ble Prime Minister of being ‘Atma Nirbhar’ and ‘Vocal for Local’. In fact, we are delighted by the fact that the manufacturing capacity for ceiling fans in the country today is close to 100% localized. IFMA is confident that with the right policy support, fans, “A common Man’s Product” can be made a readily accessible commodity for everyone as the industry is working relentlessly towards increasing grassroot level penetration, especially in rural India and increasing global competitiveness of the sector. IFMA is willing to extend its unrelenting support to the Government and regulatory authorities to ensure that Indian consumers are not deprived of the latest global innovation in this sector.
The fan industry is working to ensure compliance with BEE star labelling norms. It is important to highlight that as per industry estimates, fans contribute close to ~25% of the total annual power consumption of appliances in an average Indian urban household (highest amongst all home appliances). IFMA is hopeful that energy efficient fans will optimize this power consumption, saving ~50% of the current energy consumption. However, as compliance to energy efficiency norms has a cost implication of ~25-30%, IFMA has been advocating for a reduction in GST rate from 18% to 5% on fans as this can provide much needed working capital cushion to invest in capacity expansion and energy efficient technology and incentivize the industry in developing new fans as per the BEE star labelling requirements. With the necessary policy support, the industry looks forward to embracing sustainable and energy efficient technology and ensuring effective implementation of BEE Star Labelling Requirements as we take the leap forward in the dawn of the new era for the fan industry.
The Annual General Meeting of IFMA is scheduled on 15 September 2021.Followed by AGM, IFMA is organizing a conference on “New Era of Fan Industry – Towards a sustainable & Energy Efficient Technology”. The conference will focus on key success strategies and a roadmap for making India a hub for manufacturing energy efficient fans and the key policy support required to realize this vision. The session will also deliberate on how emerging trends in energy efficiency and consumer dynamics will present immense opportunities for Indian fan manufacturers to expand their global footprint.
For more details please contact:
Mr Rahul Singh
Indian Fan Manufacturers Association
6, N S Road, Kolkata – 700014
M: 9835151666 E: [email protected] / [email protected]