Daikin Airconditioning India Pvt Ltd is upbeat about the market in India. The company is investing over Rs 1,600 million to set up its production facility at Neemrana, Rajasthan. The facility is expected to become operational by September 2009. With this factory going on stream, Daikin India projects sales in the excess of Rs 11,000 million in the fiscal 2010.
Toshiki Hayashi, Managing Director, Daikin Airconditioning India, said, “Daikin worldwide has been maintaining the highest quality standards and has been operating in the premium air-conditioning segment with quality and technology as our hallmarks. Our aim is to serve the Indian market with locally manufactured products as much as possible. By reducing supply lead time and meeting market needs in terms of product specifications, we propose to strengthen our competitiveness and leadership in the Indian AC market. With this initiative, we are enthused and all set to translate our plans to concrete steps. And we are happy to partner with RIICO for this venture.”
BN Sharma, Managing Director, RIICO, said, “RIICO welcomes Daikin Airconditioning India and extends all its support to ensure smooth executions and implementation of its plans. Daikin being a major global player in the air-conditioning and refrigeration field, will help accelerate Rajasthan’s economic and technological growth. Its presence in Neemrana adds on to our testimonial to the growing interest of national and international companies. Rajasthan offers proximity to entire northern region of India, requisite resources, power supply, land, manpower and access to national road network.”
Hayashi further said, “With ascent in lifestyle, higher disposable incomes and growing consumerism, the Indian economy, fueled by steady GDP growth, is driving aggressive growth of the premium AC market. Daikin India has witnessed the CAGR of about 35 per cent in the last three years and is further poised to grow in the coming times.”
Daikin Airconditioning India is a 100 per cent subsidiary of Daikin Industries Ltd, Japan. Currently, it imports and sells air-conditioning equipment and enjoys high market share in the commercial-use premium air-conditioning market, and has established the Daikin brand in the country. It plans sales of approximately Rs 5,000 million in fiscal 2008.