U.K.-based technology firm Dyson, which forayed into the Indian market on Thursday, would be investing more than ₹1,200 crore in the next five years as it expects the country to be among its top markets over the next few years.
“The main driver for us is solving problems with technology,” Jake Dyson, chief engineer and member of Dyson Board, told The Hindu.
“We want to help reduce pollution…all markets need these products. But the performance of our products makes us think we are ready for the Indian market,” he said.
Dyson, which sells products in 82 countries, counts the U.S., the U.K. and China among its largest markets.
“We really see India as being the next China [for us]. It is similar in size and scale. We have understood how to start the business in a huge country based on how we did it in China. India is very important for us, so we want to get it right. We expect it to be one of our top markets in the next few years,” said Mr. Dyson.
The product range, which the company unveiled on Thursday, included cord-free vacuum cleaners (starting ₹32,400), hair dryer (₹27,900) and air purifiers (starting ₹34,900).
The company would be setting up 20 stores in next five years. The products would also be available online through the company website and Amazon.in.
“We already have a team of 150 engineers in the last 18 months…doing R&D and influencing our design from the feedback from Indian people,” said Mr. Dyson.
The company is also working on adding an electric car to its portfolio by 2021. Asked about market for electric vehicles (EVs) in India, Mr. Dyson said, “It is a no-brainer that India is high up on our list, mainly because of pollution and we need to reduce that.”
He, however, added that while almost every country had promised the use of electric vehicles, it required a significant change in the country’s infrastructure. “Our ambition and drive is to produce electric vehicle by 2021, but I am not sure that every country will be ready for it.”
