Haier India Eyes Festive Boom with GST Boost

Haier Appliances India projects a 25-30% growth this festive season, driven by GST cuts on large TVs and ACs. With a Rs 1,500 crore investment in Greater Noida, the firm is enhancing its localization efforts. GST reforms are expected to boost demand and propel the economy.

Haier Appliances India anticipates significant growth this festive season, with projected increases of 25 to 30 percent. Company President NS Satish attributes this optimism to the recent reduction in GST on large screen TVs and room air conditioners, heralding a positive outlook for the appliance and consumer electronics maker.

The company is channeling a Rs 1,500 crore investment into its Greater Noida plant and is in the process of acquiring land for a new facility in South India. Satish believes these GST reforms will catalyze the 'make-in-India' initiative, emphasizing localization and production scale.

Satish acknowledged the government's bold step in reforming GST as a pivotal move to drive economic growth. With the festive season's onset, Haier India plans to entice consumers with new product launches, marketing campaigns, and consumer-friendly financing options, predicting a spike in customer interest and sales.

(With inputs from agencies.)