Hitachi to double its India turover by 2013

February 9th, 2011 - 9:22 pm ICT by IANS  

New Delhi, Feb 9 (IANS) Japanese consumer durables major Hitachi Wednesday said that it expects turnover in India to double and reach $2 billion by 2013.”I expect our business in India to grow further, prompted by our eco-friendly and energy efficient products. I believe that our turnover would double in the next few years from the present $1 billion,” said Yasunori Taga, chief executive, Hitachi Asia Limited.

According to him, one of the key verticals which would drive the growth of the company in India, would be of the air conditioner segment where he expects Hitachi to capture 10 percent of the total market share.

“We are aiming to capture 10 percent market share in air-conditioning segment in India in volume terms this year,” Taga said, adding that currently the company’s market share is about seven percent in volume.

The air conditioning industry in India grew by 20 percent last year, company officials added, and this year the market size was expected to be 3.8 million units.

The company has a portfolio of 44 air-conditioners, including 25 in the split category being manufactured at its two plants in Gujarat and Jammu and Kashmir with a total annual capacity of four lakh units.

Hitachi will participate in the two-day Eco-Products International Fair (EPIF) in New Delhi that opens Thursday.

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