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The government has implemented 18% GST policy on all optical companies.
ECONOMICAL:
The spending power of consumers in terms of optical industry is growing rapidly.
SOCIAL:
There is a great deal of development potential for branded eyewear in these
locations.
TECHNOLOGICAL:
The market has seen a significant transformation as a result of technical
advancements and the shift of eyewear manufacturers from the unorganized to the
organized sectors.
ENVIRONMENTAL:
The expansion of the eyewear market is anticipated to be driven by favourable
demographics, more hectic lifestyles, and the prevalence of chronic eye diseases
LEGAL:
The optical companies have to follow various legal guidelines provided by the
government like registration under GST and obtaining trade license.
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• The PESTEL Analysis has helped us in analysing the current market situation in India
with regards to the eyewear industry.
• The analysis also points out towards the technological advancements and our
product is based on the new upcoming technologies that meet the market demands.
• We have customised our product in such a way that it satisfies all categories of
customers.