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Chinese home appliance maker Haier has decided to set up its manufacturing units in India.
According to TK Banerjee, CEO of Haier, the company proposes to invest U.S. $100 million over the next couple of years to set up production facilities for televisions, washing machines, air-conditioners, and refrigerators.
"To start with, we will have a factory for televisions very soon followed by other facilities for assembly operations of other durables like washing machines, ACs, and last will be refrigerators because that we are really looking at a huge volume in future years to come," said Mr. Banerjee.
Haier has spent about a year in India, and it sells mobile phones, besides consumer durables. Mr. Banerjee said, at the present, Haier did not have plans to manufacture mobile phones in India, but should it manage to corner a leadership position in the business, it could consider setting up a production unit for mobile phones as well. (Moneycontrol.com)
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