Daikin India, an air conditioner maker, is eyeing to be a $1 billion brand in India in the next two years on account of high double-digit growth in domestic markets, addition of new products and increase in exports.
The company is also planning to have another plant in South India in the next four years to catch up the growing AC market. Currently, Daikin has two functional units in Neemrana, Rajasthan.
Kanwaljeet Jawa, Managing Director & CEO of Daikin India, said, "Daikin India with now managing business across East Africa, Sri Lanka, Bangladesh and Nepal have set a target to achieve 100 billion yens riding on the back of exports and third factory by 2020-21."
"With India now gaining a reliable manufacturing reputation across the globe, the third Daikin facility will serve the growing local consumption and exports to SAARC countries, East Africa and the Middle East. Given our intent in making use of India's cost leadership, the third factory would optimise our cost structure and make us more export-oriented and efficient," he further stated.