Chinese home appliance makers and mobile phone producers are rushing to build factories in India to take advantage of its cheap labor and huge market growth potential.
On November 3, Midea Group invested US$13.5 billion (US$1.27 billion) in the Midea Science and Technology Park in Supa Parner, Maharashtra, India. Midea plans to build this technology park into a production base for household appliances, HVAC equipment and air-conditioning compressors in the next five years.
In fact, Midea announced last year that it would launch a “green space” project in India, thereby expanding the localization of manufacturing . . .
To continue reading, please SUBSCRIBE to the most relevant business and financial market news and views from China, with data and perspectives you won't read elsewhere.
Already have an account? Sign In