Haier India is strengthening its manufacturing presence in the country with a fresh investment of ₹1,000 crore in its Noida facility. This move marks a significant step in the company’s commitment to the Indian market and its support for domestic manufacturing.
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Major Expansion Plans Unfold
The Chinese home appliance giant is scaling up its operations at the Greater Noida industrial park, focusing on increasing its air conditioner production capacity. This expansion comes as part of Haier’s broader investment strategy in India, which has already seen total investments reaching ₹2,500 crore.
“This investment will help us meet the growing demand for air conditioners in India while creating new job opportunities for local talent,” said a senior Haier India executive. The expansion is expected to create 3,500 new jobs, making it a significant contributor to employment in the region.
Manufacturing Excellence and Market Position
Haier’s manufacturing journey in India began in 2004 when it first established its headquarters in New Delhi. Since then, the company has built a strong presence across 33 key locations, including major cities like Mumbai, Bangalore, Chennai, and Kolkata.
The company’s current market position shows promising growth potential:
- Present market share: 7-8% in the Indian appliance sector
- Product portfolio: Over 1,200 products
- Year-over-year growth: 35%
- Operations: Spread across major Indian cities
Future Growth and Market Outlook
Haier India has set ambitious targets for the coming years. The company aims to achieve:
- Revenue target of $1 billion by 2024
- Sales goal of ₹11,500 crore by 2025
- Continued growth exceeding 25% in current fiscal year
The Indian appliance market presents strong growth opportunities:
- Market CAGR: 9.1%
- AC market value: $5.41 billion (2024)
- Projected growth: 6.9% CAGR through 2030
Local Manufacturing Impact
The expansion aligns perfectly with India’s ‘Make in India’ initiative, showcasing Haier’s commitment to local manufacturing. The company’s investment in smart manufacturing capabilities and focus on energy-efficient solutions positions it well in the competitive Indian market.
Looking Ahead
Haier’s expansion plans don’t stop at Noida. The company is exploring the possibility of establishing a third manufacturing facility in southern India, demonstrating its long-term commitment to the Indian market.
The company is also considering strategic partnerships and has plans for:
- Enhanced after-sales service infrastructure
- Customized products for Indian consumers
- Expanded retail network
- Focus on premium segment growth
This latest investment by Haier reinforces India’s position as a key manufacturing hub and highlights the growing importance of domestic production in meeting local demand.
