Havells India Ltd., manufacturer of electrical components and consumer appliances, on Wednesday said it had set its eyes to expand manufacturing and marketing operations to China and African countries during the next three years.
Stating that China, being one of the largest markets in the world, and African nations, having the potential of major business gains and expansion during the next few years, Havells India Joint Managing Director Anil Gupta told this correspondent that the company had drawn up ambitious plans to tap the huge potential of the Chinese market and had launched its product in China during July.
“We are looking at setting up of manufacturing facility in China through a joint venture or in shape of a greenfield project. We are in talks with some companies there. The Chinese market is attractive as it offers low cost of production and provides access to the largest market. We are keen on setting up manufacturing facility for lighting segment,” Mr. Gupta said.
Stating that the company was on the growth path and expected to log a growth of 25 per cent annually in the next three to four years, Mr. Gupta said the African operations were already being put in place and the effort of the whole exercise is to be a local brand in these African countries.
Stating that Havells had touched Rs.6,000 crore turnover during last year, Mr. Gupta said the aim was grow faster with a 25 per cent growth in the next three years.