Daikin India raises HVAC product prices by 3-5% across all categories

August 17, 2013 7:20 am

Daikin Air-conditioning India Pvt. Ltd. has announced a 3-5 per cent increase in prices across all its product range in the residential and commercial HVAC categories. The air-conditioning company is a 100 per cent subsidiary of Daikin Industries Ltd. (Japan), one of the world’s leading air-conditioning companies.
The increase in prices, which will be effective from August 01, 2013, is due to the ascending US dollar rates as compared to the Indian rupee which has increased the input costs, thus putting pressures on inventory creation. The move is to offset the rising manufacturing costs due to the continuing depreciation of the Indian rupee because of which the input costs of components like copper wiring and other materials have risen in the near past.
Speaking on the price rise, Kanwal Jeet Jawa, Managing Director, Daikin Airconditioning India Pvt. Ltd., said, “Although we have been trying to offset the pressure created by the depreciating rupee by holding back prices of our product range, the continual pressure created by the current economic conditions have forced us to take the step. At Daikin India, the impetus is to keep the price appreciation at the minimal but it would be difficult for us to absorb the increasing input costs any further and avoid the current market situations, and thus this increase. We hope that our consumers will understand the unfavourable market conditions and keep their faith on the brand in spite of the undesirable price hike.”
• Consistent depreciation of Indian rupee in the world market is the main reason for the increase in input costs which puts pressure on the manufacturing process, thus leading to increased cost of production.• Will affect the market pricings of the entire range of Daikin India products, thus leading to a price escalation by 3-5% across residential and commercial segments.