Godrej plans ultra-cheap refrigerators

Tatas earlier this year rolled out the world's cheapest car 'Nano' priced under USD 2,500.

"We have introduced a six litre fridge in Andhra Pradesh, where we are test marketing it and, depending on the response, we will decide our future course of action," Godrej Group Chairman Adi Godrej said.

He said, the company has similar plans for colour televisions, which have been launched in Southern states but declined to provide details.

According to industry estimates, the total market for refrigerators in India is around 3 million units per annum and is growing at 15 per cent annually.

However, the entry level refrigerators, which account for nearly 70 per cent of the total market, are available at around Rs 7,500-8,000.

The consumer electronic products division is being looked after by Godrej Appliances which is a part of Godrej & Boyce.

Godrej & Boyce, is a privately held company of the group, which produces security equipment and other such products.