New Delhi, Sept. 24 -- India's consumer durables market is expected to grow 8-10 per cent annually to reach Rs 3-3.25 lakh crore by 2030, creating an additional Rs 40,000-50,000 crore opportunity for domestic value addition, according to a joint report by Boston Consulting Group (BCG) and Confederation of Indian Industry (CII).

The report said deeper localisation of components will be critical for India to capture this opportunity and reduce dependence on imports.

Domestic value addition currently accounts for around 50-55 per cent of the sector's potential and could rise to 65-70 per cent by 2030 as component manufacturing capacity expands.

However, the report cautioned that at the current pace of localisation, a significant share of ...