TTK Prestige to stop sourcing finished products from China after September

Leading home appliances company TTK Prestige on Friday said it will not be sourcing finished products from China beyond September amid the ongoing border row with the neighbouring country.

"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 Doklam 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,'''' the company''s Managing Director Chandru Kalro said in a statement.

According to the statement, the company has been increasing local production since the past three years, and has moved most of its China-based finished product sourcing to local manufacturing/ sourcing.

Kalro noted that currently only 10 per cent of their products are sourced from China, and the ongoing border row with the northern neighbour has forced them to take a tough stance on sourcing policy from that nation.

The overall strategy is to provide India-made products in line with the government''s dream of an increased local manufacturing, he added.

"We will now ensure that maximum products are sourced from the country and those that can''t be sourced out locally will be sourced from countries other than China," the company said.

It noted that the the ultimate goal is to ensure that less than 5 percent of its total portfolio will be sourced from outside the country.

The company sells its products, including pressure cookers and gas stoves, under the brand name ''Prestige''.