With an eye on India's fast growing white goods market expected to grow at an annual rate of 6 percent to 7 percent and reach 700 billion Indian rupees by 2019, Fang Hongbo, the Chairman of China's Midea Group said India is "a key market for our global strategy" and the group will invest 13.5 billion Indian rupees ($185.1 million) in Supa Parner, Pune to set up a 270,000-square-meter technology park there. Once put into production, it will have an annual production capacity of 500,000 units of refrigerators, washing machines, water purifiers and water heaters. It will also be able to manufacture household air conditioners and air condition compressors of around 1.5 million and 4.5 million units a year, respectively. 

Subscribe to Newswire | Site Map | Email Us
Centre for China Analysis and Strategy, A-50, Second Floor, Vasant Vihar, New Delhi-110057
Tel: 011 41017353