Five home appliances businesses to look out for this Diwali

Every Indian household has that one trusted appliance—a mixer that has lasted decades, a fan that hums through every summer, or a pressure cooker passed down through generations. These everyday essentials reflect not just convenience, but the reliability of Indian brands that have quietly, and sometimes with a buzz, powered our homes for years.

According to Grand View Research, the Indian household appliances market was valued at $22.45 billion in 2024 and is projected to grow at a CAGR of 7.2% between 2025 and 2030.

Government initiatives like Make in India have further fuelled this demand, with brands like Godrej, Voltas, Bajaj, and Crompton competing against global giants like Samsung, LG, Whirlpool, and Philips. Yet, beyond these familiar names, a set of homegrown appliance businesses is redefining innovation and affordability across India’s Tier II and III cities.

Ahead of Diwali, SMBStory spotlights five promising home appliance brands making everyday living simpler. 

(The list is in no particular order.)

Usha International 

Founded by Lala Shri Ram in 1934, Gurugram-headquartered Usha International—of parent company Siddharth Shriram Group—offers a product portfolio spanning sewing machines, fans (ceiling, pedestal, and wall), kitchen appliances (mixers, grinders, juicers, and toasters), water heaters, room heaters, and lighting, among others. 

With a facility in Hyderabad, Usha serves customers across 30 countries through 45 company showrooms, four factories, 34 warehouses, and 16 regional offices in India. At present, the company is headed by Madhav Mani, who was appointed the CEO of Usha in May this year. It also has offices in China and Sri Lanka. 

According to media reports, as of FY23, Usha generated Rs 3,800 crore in revenue. Although it has a strong presence across Tier I cities, Usha remains a household name in the non-metro cities beyond Tier II. 

Bajaj Electricals 

Originally incorporated as Radio Lamp Works by Kamalnayan Bajaj in July 1938, the Mumbai-headquartered brand was later renamed as Bajaj Electricals. 

The company operates across multiple verticals—fans (ceiling fans, table fans, wall fans, pedestal fans); lighting (ceiling lights, lamps, decorative lights); home appliances (water heaters, air coolers, irons, room heaters); kitchen appliances (mixers, juicers, blenders, OTG, microwave ovens, air fryers, electric cookers, kettles); cooking essentials (induction cooktops, gas stoves, pressure cookers), and personal grooming products.

According to media reports, appliances and consumer durables are a key contributor to Bajaj’s revenue, which amounted to Rs 4,727 crore in FY24. The company recorded Rs 4,828,43 crore in FY25. It employs over 2,500 people.  

The company is currently spearheaded by Managing Director and CEO Sanjay Sachdeva, appointed in April 2025, under the guidance of Chairman Shekhar Bajaj. It recently partnered with wholesale trading company Fakhruddin General Trading Co. LLC to expand its global presence in the Middle Eastern market. 

Butterfly Gandhimathi Appliances

Founded by V Murugesa Chettiar in 1986, Chennai-based Butterfly Gandhimathi Appliances, also popularly known as Butterfly, claims to be the first brand to launch stainless steel pressure cookers and vacuum flasks in India. 

Its product portfolio includes kitchen appliances (LPG gas stoves, mixer grinders, electric rice cookers, pressure cookers, power hobs, chimneys), non-stick cookware, and home appliances (iron box, air coolers, tower fan). 

The company exports its products to the US, UK, Mauritius, Australia, and Japan. In March 2022, Crompton acquired a 55% equity share capital in Butterfly, later further increasing its share. Currently, Crompton holds 75% equity share capital of Butterfly as a promoter. 

Its primary market is India (especially South India), though the merged entity under Crompton helps extend its reach more broadly. In FY25, Butterfly recorded revenue from operations of Rs 864.5 crore, down from Rs 931.3 crore in FY24,  but managed a net profit of Rs 32.5 crore. 

Thermocool Home Appliances 

Founded in 1992 by Ranjeev and Sanjeev Gupta in Uttar Pradesh, Thermocool Home Appliances began its journey as the manufacturer of affordable air coolers. 

Three decades later, the venture has evolved into a Rs 190 core appliance business with a lineup that includes over 200 products across washing machines, TVs, ceiling fans, water heaters, room heaters, and home and kitchen appliances verticals. 

Thermocool claims to have an 8-10% market share in the home appliance and cooling segment in its core operating markets of UP, Bihar, Jharkhand, and some parts of West Bengal. The company aims to achieve Rs 250 crore in revenue next year. It has also built a strong foothold in North and East India. 

Looking ahead, Thermocool plans to expand aggressively within the country and into select global markets, like Nepal, Bhutan, and South Africa. The company is also investing heavily in research and development for smart and solar-friendly appliances, including upcoming launches in refrigerators, air conditioners, and IoT-enabled washing machines. 

It is currently spearheaded by Tushar Gupta and Tanuj Gupta.

Lifelong Online 

Founded in 2015 by Bharat Kalia, Varun Grover, and Atul Raheja, Gurugram-based Lifelong Online is focused on bringing tech development in the home appliances and consumer durables space. 

The brand’s first-ever product was a mixer grinder. Over the years, it expanded its product offerings to focus on home and kitchen, sports and fitness, wellness, and personal grooming appliances. At present,  the company’s product lineup includes gas stoves, curd makers, induction stoves, mixer grinders, cookware, as well as home projectors and lighting solutions. 

Besides the company website, Lifelong Online’s products are available on ecommerce platforms like Amazon, Flipkart and Myntra, along with quick commerce platforms like Blinkit, Zepto, and Instamart. 

According to online sources, Lifelong Online’s revenue for FY23 stood at Rs 340.77 crore. 

(The copy was updated to fix a factual error.)