Haier Invests Heavily in Rs 7,400-Crore Plant, Aims for Rs 22,000-Crore Revenue by 2028

Haier to Invest Over Rs 7,400 Crore in Largest Manufacturing Push in India

Haier Appliances India, a leading consumer durables major, is set to invest more than Rs 7,400 crore in its largest manufacturing push in India. The company aims to achieve a revenue of Rs 22,000 crore by 2028, Haier Appliances India president NS Satish has announced.

As part of its expansion plans, Haier will ramp up production of ACs, television sets, and washing machines to grow its India and export footprint. The upcoming plant is expected to generate an estimated 4,000-5,000 jobs in the first phase alone. The company will spend Rs 3,900 crore in the first phase and Rs 3,500 crore in the second phase.

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The manufacturing push will cater to both domestic and export markets, with the company finalizing land in southern and western India. Haier's endeavour is to achieve a revenue of Rs 22,000 crore by 2028, which will be driven by capacity expansion, product lineup, and infrastructure development.

The expansion comes at a time when Haier is already ramping up local manufacturing. The company's injection molding and PCB plant has commenced production, while its AC factory in Noida is on track to go live by December.

Haier's growth has been 27 percent in the first quarter of 2026, despite the Iran war constraints and a weak rupee. However, the company expects inflationary pressures to impact product specifications at given price points, but consumer intent remains intact.

Haier is targeting revenue of Rs 14,500 crore for 2026, up from around Rs 10,800 crore in the 2025 calendar year, driven by strong demand in air conditioners, televisions, and refrigerators. The contribution mix is expected to shift, with washing machines, ACs, and TVs accounting for a larger share of revenue.

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The company's growth is being led by categories where Haier has relatively lower market share, such as washing machines and televisions. Premiumisation, urban demand, and brand investments are driving growth, with higher-end products such as front-load washing machines and side-by-side refrigerators witnessing strong sales.

In the domestic market, India remains the primary growth market for the company, while exports will scale gradually. The company is also expanding into the commercial air-conditioning segment, betting on rising demand from infrastructure and data centre development.

Haier expects a gradual shift in its revenue mix, with washing machines, LED TVs, and air conditioners contributing a larger share going forward, reducing dependence on refrigerators. The company employs around 1,200 people in offseason at its Noida facility, with workforce numbers rising to about 3,500 during peak periods.

The recent investment by Bharti Enterprises and Warburg Pincus is expected to accelerate localisation and scale up operations, with the relationship evolving into a strategic partnership. The partnership is expected to strengthen Haier's broader electronics play in India and unlock multiple synergies.