Bharti Enterprises and Warburg Pincus revealed their plan to jointly purchase a 49 percent share in major consumer appliances company Haier India, which is a subsidiary of the Haier Group, for an undisclosed sum.

Haier Group will maintain a 49 percent ownership in Haier India, while the rest will be owned by the management team of Haier India, as stated in a joint announcement.

“This partnership will hasten Haier’s advancement and growth in India by combining and utilizing the company’s worldwide excellence in innovation, Bharti’s respected reputation and associated networks, and Warburg Pincus’ proven success in transforming brands into industry frontrunners,” the announcement stated.

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The collaboration will further Haier India’s ‘Made in India, Made for India’ vision through enhanced local sourcing, increased manufacturing capabilities, fostering product innovation, and expediting market entry. The additional capital will boost Haier India’s competitive edge throughout the complete value chain.

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Haier expressed in the announcement: “Partnering with Bharti Enterprises and Warburg Pincus signifies a significant milestone in the growth journey of Haier India.” The strategic alliance fully reflects Haier’s method of supporting globalization with worldwide competencies and promoting globalization through local adaptation.

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In a recent interview with Business Standard, Haier announced its goal to finish 2025 with a 25 percent revenue increase, aiming for Rs 11,000 crore, supported by robust television sales after the goods and services tax reduction.

Haier India holds an 8 per cent market share in the Indian air conditioner and washing machine sectors and aims to raise its AC market share to 17 per cent by 2030. In the refrigerator sector, it holds a 14 percent market share and a 9 percent share in the LED television category. In commercial refrigeration, the firm holds a stake of almost 26 percent.