Sunil Bharti Mittal, Chairman of Bharti Enterprises, is eyeing a major stake in Haier India. Haier is a Chinese company, but it also has a separate unit registered in India and that is what Mittal wants a stake in. The company is registered under the name Haier Appliances Private Ltd. This is a 100% owned subsidiary of Haier, a Chinese company.
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According to a Bloomberg report (via Reuters), Mittal is in advanced stage discussions to acquire a $2 billion stake in Haier India. This would roughly translate to a 49% stake in the company.
Haier India deals in several appliances including Air Conditioners (ACs), water heaters, TVs, smart home appliances, and much more. There's almost every kind of major tech product used in a home available under the Haier brand. Mittal is now in advanced discussions to get a stake in the company.
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Haier is witnessing impressive sales growth in India. The company crossed a billion dollar sales figure in 2024, and is targetting to double it in India in the next two to three years. Haier is not only looking to sell products in India, but is also investing in the country to manufacture locally. These investments would only go up with time as the company seeks to benefit from the production linked incentive (PLI) scheme of the government.
