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FinancialNews
23-05-21
Iran sees 78 percent growth in home appliance industry in 2020
(MENAFN)Iran’s home appliance industry saw a 78-percent growth in the past Iranian year, according to Iran’s Deputy Industry, Mining and Trade Minister Mehdi Sadeqi Niaraki.
The official further stated that the industry was able to attain 78 percent growth in spite of the restrictions on the manufacturing sector in the previous year, saying that “While foreign brands left Iran, manufacturers were able to achieve this leap by relying on domestic capacities.”
Considering the Iranian home appliance industry’s infrastructure and capacities, the country is going to be able to turn out to be an exporter of such products in the near future because most of the raw materials required by the stated sector are produced domestically, he said.
The official added that the Industry, Mining, and Trade Ministry will hold up domestic manufacturers and national brands, stating that "Today we have the necessary manpower, knowledge, and infrastructure in the field, so there is no reason to look for foreign sources to meet the country’s demands."
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