Daikin Industries, the world’s largest manufacturer of air conditioners, is looking to expand in India as it responds to consumer demand for what’s become a necessity as temperatures soar.
The Japanese company has signed a memorandum of understanding to acquire an additional 13.4 hectares to build a new plant near its current factory in southern India, chief executive officer of Daikin’s India operations, Kanwal Jeet Jawa, said from the company’s Osaka headquarters last week.
"About 93% people in India still don’t own air conditioners and that’s the future market for us,” he said.
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