India has become one of the fastest growing ACE markets in the world and is also emerging as a tremendous manufacturing hub through the introduction of PLI (Productivity-Linked Incentives) schemes. Presently, the industry is witnessing a premiumization trend across the market, having higher sales from the premium and mid premium segment. The industry had crossed the pre-pandemic mark in value terms in FY22, demand driven by both urban and rural segments. Air conditioners (AC) segment has been the key growth driver for the industry. Demand for ACs and Refrigerators are being driven by changing weather patterns.
Satish NS, President, Haier Appliances India says, "Over the years, Haier has stayed true to its commitment to continuously offer India-centric innovative products that deliver the promise of quality to the customer. Apart from Haier's manufacturing plant in Pune, we have established our manufacturing unit in Greater Noida to further the intent of 'Made in India' and 'Made for India' initiative. The Greater Noida facility is one of the state-of-the-art R&D centers focusing on innovating to address local needs of the consumers.”