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Haier returns, sets up 100% arm

December 05, 2003 15:34 IST

Chinese consumer electronics firm Haier has taken the wholly owned subsidiary route to return to India, about two years after the distribution alliance with a local partner was terminated.

Haier Appliances India has forged alliances with several Indian appliance manufacturers, including BPL and Voltas, for sourcing products and the parent company plans to eventually set up a manufacturing base in the country once sales reach a critical mass.

Announcing the company's operations in India, president and chief executive officer T K Banerjee told newspersons that the Chinese parent has taken government approval for investing Rs 30 crore (Rs 300 million) in the country initially.

"We had a distribution alliance with a local company called Aniruddh Appliances till last year but that was terminated with an agreement that Haier India will buy back all unsold products and provide after-sales service to the existing customers," he said.

The brand will initially be launched in north Indian markets and will comprise colour televisions, washing machines, refrigerators, dish washers, microwaves with mobile phones to follow shortly.

Banerjee said the company will offer 'competitive' pricing and plans to set up a research and development centre in India besides using the country as a base for global exports.

The high-end products will be imported initially.

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