Haier Aims to Touch $2Bn Revenue by 2027-End, to Invest ₹3,500 Cr in 3-4 Years

Haier India is planning to invest Rs 3,500 crore in a phased manner in the next 3-4 years to expand capacity as the appliances and consumer electronics maker aims to cross the USD 2 billion sales mark in the next two years, its President N S Satish said on Friday.

The company is in the process of setting up a new plant down south to cater to the export and local market as Haier Appliances India sees a "huge opportunity" in the segments of air conditioners, LED, and washing machines and expects its market share to move into double digits.

This new tranche will "generate an employment of 12,000 people, direct and indirect", Satish told PTI.

On whether Haier has finalised the site, he said, "Currently, we have just shortlisted places. We are in the course of discussion with the respective governments. Of course, there are a lot of other factors that we have to consider before going in." Besides, Haier is investing Rs 1,900 crore in 2026, which includes Rs 1,500 crore for the second room-air-condition manufacturing unit, which it is setting up at the Greater Noida plant, and the remaining Rs 400 crore will be for other investments, such as adding an additional line for its refrigerator manufacturing.

Whether Haier India is facing any challenges in bringing investment because of its parent being a China-based entity, under Press Note 3 (PN 3), Satish said the company is investing its own money here, generated through internal accruals.

"We have been able to generate our own money, and we are able to invest. So far, we have been able to manage it. I don't think there is an issue of Press Note 3 affecting our growth in any way," he said.

Through PN3, the government had made its prior approval mandatory for foreign investments from countries that share a land border with India, which includes China. As per that decision, FDI proposals from these countries need government approval for investments in India in any sector.

The company, which recorded up to 45 per cent growth as a brand during this festive season, now expects to finish 2025 with a turnover of about Rs 11,000 crore, said Satish.

"We would end up at around 22 per cent growth in 2025, January to December, with a revenue of Rs 11,000 crore," he said, adding, "Next year, we are looking at Rs 14,500 crore." Asked when Haier India -- part of Qingdao, Shandong (China)-based Haier Group -- will cross USD 2 billion sales here, Satish said, "I think within 2 years we should be able to reach the 2 billion." In the segment of refrigeration, Haier already has 15 per cent market share, and has plans to amplify it as Satish sees new opportunities in bringing in innovation and getting into the mass market, which is still underpenetrated.

Haier is increasing the domestic value addition of its products by integrating local components. The company has already completed its printed circuit boards (PCBs), where commercial production has started. PCB was being earlier imported by Haier from global factories.

It is also working on "backward integration, injection moulding plant", said Satish adding, "We are trying, as much as possible, to not only produce in India, but also produce within our own factories." In products as refrigerators, Haier has localised almost 80 per cent localised in terms of the component and for room airconditioner, its between 70 to 80 per cent, depending on models.

As per its strategy, Haier is aiming to be the number two player in the Indian consumer electronics and appliances market, which is estimated to grow around double to Rs 2 lakh crore by 2030.

"We are increasing the gap between the number 4 player and number 3, which is us, and reducing the gap between number 2 and number 3. So very shortly we will go after the number 2 position," he said.

On the commodity prices, Satish said it is "going forward, and obviously, there is pressure on the profitability".

"We will try to hold on (prices) as much as possible," he said.