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August - 2016 - issue > CXO Insights

The Home Appliance Business in the Internet Era

Eric Braganza, President, Haier - India
Wednesday, August 17, 2016
Eric Braganza, President, Haier - India
Haier (HKSE: 1169.HK) is a Chinese multinational consumer electronics and home appliances company that designs, develops, manufactures and sells products like mobiles, computers, ACs, television sets, microwave ovens, refrigerators, washing machines and many others. The company has a current market capital of $38.63 Billion.

"The Internet is so big, so powerful and pointless that for some people, it is a complete substitute for life" - Andrew Brown.

We can safely say that the entire Indian sub-continent is undergoing a mass transformation of sorts, and internet and technology is playing a huge role in defining what role the so-called 'transformation' will play in an average Indian's life. With a reported annual GDP growth rate of 7.5 percent (highest in the world), looking ahead, we are all set for a burgeoning, unprecedented expansion, given that the government policies and rules are implemented by all of us in both letter and spirit.

In a population of roughly 1.3 Billion, India is standing at the cusp of a huge growth and development story we are about to write. According to a study by IBEF, India is set to become the largest consumer durables market by 2015. This means that in less than 10 years, India will be eying a pie in the consumer durable market worth $12.5 Billion. So why are we eyeing optimism with so much positivity? The reasons would be:

- Higher levels of income in both urban and rural areas.
- Ease in paying taxes.

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