Haier India's Ambitious Expansion Plans: Rs 3,500 Crore Investment in Pipeline

Haier India plans to invest Rs 3,500 crore over 3-4 years to expand capacity, aiming for USD 2 billion in sales within two years. The company will set up a new plant and create 12,000 jobs, overcoming challenges from Press Note 3 restrictions on foreign investments.

Haier India is setting the stage for significant expansion by earmarking Rs 3,500 crore for investment over the next 3-4 years. The move aims to elevate the appliance and consumer electronics company's sales to USD 2 billion within two years, company President N S Satish announced.

The expansion plans include the establishment of a new production facility in South India targeted at both export and domestic markets, particularly in air conditioners, LEDs, and washing machines. This development is expected to generate 12,000 new jobs, both directly and indirectly.

The company is navigating regulatory challenges linked to foreign investment restrictions under Press Note 3, which affects Chinese parent companies. Yet, Satish said Haier is managing its growth by relying on internally generated funds. The corporation expects to wrap up 2025 with a revenue of Rs 11,000 crore, and is aiming for a larger slice of the consumer electronics market.