Daikin plans to speed up the supply of products made in India
By siliconindia | Friday, 24 November 2023, 09:18:26 AM IST
Daikin Airconditioning India Pvt Ltd has announced that it is planning to ramp up the supply of domestically manufactured products in both the domestic and international markets following the launch of its third plant. The new facility, located in Sri City, Andhra Pradesh, represents a significant investment of Rs 1,000 crore and will produce integrated air-conditioning and compressor units. As a wholly-owned subsidiary of Japan's Daikin Industries Ltd, the new plant is expected to boost the company's manufacturing capabilities and help it meet growing demand for its products.
The company has established a new plant spanning 75.5 acres under the PLI scheme. This move enables the company to take advantage of India's manufacturing potential and produce goods for the global market. The company has a wide reach, with approximately 100 production units worldwide and a customer base in over 170 countries. However, the company holds a special regard for India. As we expand our manufacturing footprint in India, we re-emphasize the importance of India in Daikin’s global vision", Daikin Industries President & CEO Masanori Togawa said in a statement. "The country’s dynamic market and skilled workforce align perfectly with our mission, and we are confident that the new facility will not only elevate the standard of HVAC solutions but also contribute significantly to the growth of the industry in India and the surrounding regions", he further said.
The new facility is dedicated to the development of climate-friendly air conditioning solutions for markets in West Africa, Sri Lanka, Bhutan, Nepal, Bangladesh, the Middle East, South America, and East Africa, Daikin Airconditioning India said. "This facility will not only enhance our production capabilities but also strengthen our position as a leading provider of energy-efficient and sustainable HVAC (heating, ventilation, and air conditioning) solutions in the region", Daikin Airconditioning India Chairman & Managing Director K J Jawa said. With this factory, he said, "Daikin’s production capacity receives a substantial boost, further solidifying our commitment to growth in India". The company has so far invested Rs 2,800 crore in India.
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