Midea Group to set up JV in India for appliances
Business
Chinese appliance giant Midea Group is setting up a joint venture with an Indian partner to start making products locally.
The company says this move will help it connect better with Indian consumers and speed up its growth in one of Midea's fastest-growing markets.
JV to produce Toshiba premium refrigerators
The new JV will focus on building fridges, washing machines, microwaves, and dishwashers, especially premium refrigerators under the Toshiba brand.
Midea's India head, Siddharth Saxena, pointed out that fridges and washing machines already make up most of the market here, while dishwashers and microwaves are just getting started. He also sees big potential.