-Press Release
TTK Prestige, India’s leading kitchen appliances brand, announced that it will no longer be sourcing finished products from China after September 2020. TTK Prestige has been working on a “Make in India” program for more than three years now and has moved most of its China-based finished product sourcing to India manufacturing/sourcing. Currently, only 10% is being sourced from China, which has led the company to take a tough stance on its sourcing policy from China, following the recent border skirmish with the Chinese army at the Ladakh border last month.
TTK Prestige’s overall strategy is to provide India-made products in line with the Prime Minister’s dream of an Atmanirbhar Bharat. The brand will now ensure that products will be sourced out of India and products that can’t be sourced out of India will be sourced from countries other than China. TTK Prestige’s ultimate goal is to ensure that less than 5 percent of its total portfolio will be sourced from outside India.
Commenting on this announcement, Chandru Kalro, Managing Director, TTK Prestige said: ‘’ As a brand, we are inherently proud of our Indian heritage and legacy. We have been reducing this dependence on China over the last few years, right from the time the Dokhalam incident had happened. The present standoff has triggered us to come to this hard stop for imports of finished products from China. We have taken the decision to stop all finished goods sourcing and are working hard to also develop the component ecosystem in India itself.’’
