India festival may not cheer durable goods makers (Reuters via Daily Times)

The reasons:

Intense competition has depressed prices of everything from washing machines to refrigerators in India, dampening the spirits, and profits, of durable goods makers as they prepare for the busy festival season.

and

Korean and Chinese players, who face weak spending and high costs at home, are eager to grow in India, where less than 45 percent of homes own televisions and only a quarter have refrigerators.