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Haier Group to Invest Rs 1,000 Crore in Indian JV with JSW Group

Haier Group to Invest Rs 1,000 Crore in Indian JV with JSW Group

Haier Group, a major Chinese appliance company, plans to invest Rs 1,000 crore in a joint venture with India's JSW Group to expand its presence in the Indian market. The proposal, submitted to the Indian government, requires mandatory approval under Press Note 3 of 2020 due to Haier’s location in China, which shares a border with India. The approval process involves an inter-ministerial committee led by India’s Home Secretary. Haier has been active in India since 2003, with manufacturing facilities in Pune and Greater Noida, producing 9 million units annually. The company, which has invested Rs 3,500 crore in India, has a strong market in home appliances, particularly serving rural and urban middle-class consumers.

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