Bharti Group Chairman Sunil Mittal is in advanced talks to purchase a 49 percent share in the Indian division of China's Haier Smart Home Co., as the billionaire aims to grow his presence in India's rapidly expanding consumer durables sector.

According to reports, Mittal has collaborated with the private equity firm Warburg Pincus for a potential agreement, which is believed to be worth around $2 billion.

The talks are reportedly in an advanced phase, and a formal agreement might be finalized in the next few weeks, pending regulatory approvals.

The report also mentioned that although talks are in progress, Haier could still decide not to proceed with the sale. There is still a chance that more investors may show interest before a final decision is reached.

Haier’s India division, Haier Appliances (India) Pvt Ltd, has become a key player in the South Asian market. The company's revenue in the South Asia region increased by more than 30 percent compared to the same quarter last year in the first quarter of 2025. During that same period, its side-by-side refrigerators captured a 21 percent share of the Indian market.

Haier was looking into a sale of 25 to 49 percent of its activities in India. By November, the company had garnered attention from international investors, such as Temasek Holdings Pte, GIC Pte, and Mubadala Investment Co. Sunil Mittal, widely recognized as the founder and chairman of Bharti Airtel Ltd., is one of India’s leading industrialists.

Reports indicate that Sunil and his family possess an estimated net worth of $28 billion.

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Should the deal move forward, it would signify a significant strategic advancement into India's consumer appliances market, in line with growing domestic demand and consumption patterns in the nation.