A combination of localised lockdowns, closure of non-essential retail stores, and challenges emerging from low industrial oxygen supplies has forced home appliance makers to temporarily halt manufacturing activity.
Japanese major Panasonic will shut its Jhajjar plant in Haryana for a week beginning Monday, as demand suffers on account of containment measures.
“There was a positive momentum in the market between January and March, as coronavirus cases were low and people were stepping out to buy. As the cases picked up in April, localised lockdowns have grown, hurting demand. At the same time, the safety of our people matters. We have, therefore, taken the decision to temporarily halt operations at our Jhajjar plant. This is for a week,” Manish Sharma, president and chief executive officer of Panasonic India and South Asia, said.
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The PLI scheme is expected to increase local value addition to 75% from the current 25% level - Businessline
The PLI scheme is expected to increase local value addition to 75% from the current 25% level - Businessline×
But industry says scheme should also cover finished products The PLI scheme for the AC industry, which got the Cabinet nod on Wednesday, is expected to strengthen the component ecosystem and boost local value-addition. Industry players, however, said that incentives under the scheme should also have been extended to finished AC products.
Kamal Nandi, President, CEAMA and Business Head & Executive Vice-President – Godrej Appliances said, “This scheme will bring the entire value chain on-shore and enable India to play a more significant role globally, while creating employment opportunities locally. However, towards a holistic growth of the sector, finished goods can also be cons
Daikin acquires air handling unit business of Citizen Industries
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Last Updated: Dec 20, 2020, 11:18 AM IST
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According to the industry sources, the deal is estimated to be around Rs 100-125 crore.
New Delhi: Daikin Airconditioning India has acquired the air handling business of Ahmedabad-based Citizen Industries, a move which will enhance its product positioning into the commercial air-conditioning market, a top company official said. The move would help Daikin to strengthen its presence in the fast-growing commercial air-conditioning market and expects the segment to increase its contribution up to 35 per cent of its turnover from next year. Moreover, this would also establish Daikin as a complete player into the domestic commercial air-conditioning market offering a complete solution into the segment.