New Delhi [India], December 24 (ANI): Bharti Enterprises and the global investment firm Warburg Pincus have announced their investment in Haier India. This new partnership aims to help Haier India grow faster in the coming years. According to a press release, Bharti Enterprises and Warburg Pincus will together own 49 per cent of the company once the deal is finished. The Haier Group will keep another 49 per cent, while the people who manage Haier India will own the small remaining part.
Haier India is currently one of the top three companies in its field in India. For the last seven years, the company has grown by about 25 per cent each year. This is one of the fastest growth rates in the entire industry. The new money and support from this deal will help the company make more products within India and create new types of appliances for Indian homes.
“The partnership will bolster Haier India’s ‘Made in India, Made for India’ vision by deepening local sourcing, expanding manufacturing capacity, driving product innovation, and accelerating market penetration. The new capital infusion will also enhance Haier India’s competitiveness across the entire value chain,” the release said. They plan to buy more parts from local Indian suppliers and build more factories to increase how much they can produce.
The market for home appliances in India is getting bigger as people have more money to spend and their lifestyles are changing. Bharti Enterprises said it is pleased to “partner with Haier to support the next chapter of Haier India’s growth journey.” The company believes that Haier India will become an even stronger brand by using global inventions and providing better service to its customers.
Warburg Pincus mentioned that it is excited to expand its reach in the fast-growing Indian market. The firm explained that this investment shows its ability to use “global expertise, and its expansive network to support and accelerate growth for leading companies.” This is not the first time Bharti and Warburg Pincus have worked together, and they hope to use their past experience to help Haier succeed.
Haier stated that this team-up is an important milestone. The company explained that the partnership fits its goal of “serving globalization with global capabilities and advancing globalization through localization.” By using the local knowledge of Bharti and the global reach of Warburg Pincus, Haier India expects to create better products specifically for Indian shoppers. This move is designed to make the company a leader in the Indian appliance market. (ANI)
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