JOIN USWith an investment of Rs 600 crore, Haier India has set up its first industrial park in India, at Ranjangaon near here.
The company also announced that it intends to set up an R&D centre in India in the next five years, while taking into account the GE Appliances acquisition, which has already given it an R&D presence in Bengaluru.
The Pune facility will double Haier's refrigerator manufacturing capacity in India, taking it to 18 lakh units per annum. It will also allow Haier to introduce manufacturing capacities for its washing machines, air conditioners, televisions and water heaters, with each category's capacity at five lakh units. Further, it will cater to 80% of the local demand, reducing imports, which currently stand at about 50%.
Inaugurating the plant here, Haier India President Eric Braganza said, "The plan was initiated in 2015, and we have completed it in record time. We are extremely positive about growth opportunities across categories in India, and this plant is going to support that." The plant is set to create up to 2,000 direct jobs and about 10,000 indirect jobs.
Haier India witnessed a massive 47% growth this calendar year, with its turnover at Rs 2,000 crore. Driven by manufacturing capabilities and innovation, the company is set to enter the top five brands in the Indian market next year. Further, it intends to become one of the top three brands in India by 2020.
"By 2020, our turnover should hit $1 billion. It will contribute to about 3-4% of the company's global turnover, which currently stands at $31 billion," Haier India Managing Director Song Yujun said.