Radhakrishna Adyanthaya, Executive President, Bajaj Electricals Elected As Chairman, IFMA

Online, October 16, 2012 (Newswire.com) - Radhakrishna Adyanthaya, Executive President & Head Fans Business Unit, Bajaj Electricals Ltd. has been elected as the Chairman for IFMA (Indian Fans Manufacturers' Association) for a period of two years from 2012-14. The decision was taken during the annual general meeting of the association that concluded recently.

IFMA is an association comprising most of the major Indian Fan Brands. The Indian fan market touched a figure of 36 million fans for the year 2011-12 but the industry has registered a de-growth of 3.5%.

Speaking on the occasion of his election as Chairman, Mr. Radhakrishna said "The Indian Fan Industry, after an exceptionally consistent good performance over last 9 years with an Industry CAGR of >16%, failed miserably in 2011-12, registering negative growth. Situation has not been different during this year so far. Fate of this Industry being closely tied to Realty sector, RBI policy and Rate cuts will play significant role in improving the mood and the sales."

"Fans being one of the biggest users of Electricity, IFMA is gearing up to face the Challenges, with thrust in Energy Saving/ Star-Rating and Super Efficiency Products in association with BEE. In order to make such products affordable to common man, a bit of handholding from the Government by way of subsidized Taxation for these products will go a long way in Promoting this Industry, besides saving substantial amount of Energy "he added.

Mr.Radhakrishna, an M.A. & Post Graduate Diploma in Business Management, has been with Bajaj Electricals for over 20 years.