Chinese appliance giant Haier Group plans to establish a joint venture with India’s JSW Group, proposing an investment of Rs 1,000 crore, sources report. The joint venture proposal, submitted to the government, is under review in line with Press Note 3 of 2020, requiring government approval for investments from countries sharing land borders with India, including China. The review is managed by an inter-ministerial committee led by the Home Secretary.
Haier, already a prominent player in India’s home appliance market with an Rs 8,000 crore business, operates two manufacturing plants in Pune and Greater Noida. With India as its third-largest market globally, Haier has invested Rs 3,500 crore in the country and maintains an annual production capacity of 9 million units. This venture follows a similar partnership by JSW Group last November, where it entered a JV with China’s SAIC Motor, acquiring a 35% stake in MG Motor India.
Haier India, headquartered in Greater Noida, continues to expand its reach with accessible options for India’s rural and urban middle-class markets. The company, competing with Samsung, Panasonic, Whirlpool, and other major brands, recently announced a “significant expansion plan” to meet growing demand in the region.
Haier Group is a leading global home appliances and consumer electronics company headquartered in Qingdao, China. Known for its innovative products and commitment to high-quality design, Haier has established itself as a pioneer in smart home solutions, offering a wide range of appliances such as refrigerators, washing machines, air conditioners, and kitchen appliances.
With a focus on IoT-driven connectivity, Haier’s products integrate seamlessly to enhance user convenience and energy efficiency. The company’s “Zero Distance” strategy, which prioritizes direct engagement with consumers, allows it to rapidly respond to market needs and continuously refine its offerings.
Haier has expanded its footprint through strategic acquisitions, such as GE Appliances in the U.S. and Fisher & Paykel in New Zealand, establishing a strong global presence and underscoring its mission to improve lifestyles worldwide with smart, sustainable technology.
JSW Group is one of India’s leading conglomerates, with a diverse portfolio spanning steel, energy, infrastructure, cement, and paints. Founded by Sajjan Jindal, JSW Group has rapidly grown into a powerhouse, particularly in the steel and energy sectors, where it has played a vital role in supporting India’s industrial growth.
JSW Steel, one of the flagship companies, is among the largest steel producers in India, known for its emphasis on innovation, quality, and sustainability in production processes. The group has also invested in renewable energy projects, including wind and solar power, aligning with India’s shift toward cleaner energy sources.
JSW’s infrastructure ventures support vital public projects, while its cement and paints businesses cater to the booming construction industry. With a commitment to responsible growth and social initiatives, JSW Group is contributing to India’s economic development while promoting sustainability across all its sectors.
