Daikin Inaugurates its new plant in Sri City

Sri City, November 23, 2023 – Strengthening its growth journey, Daikin Air-conditioning India Pvt. Ltd., a wholly owned subsidiary of the Daikin Industries Ltd., Japan, inaugurated its green filed unit in Sri City on Thursday. Mr. Masanori Togawa, CEO & President, Daikin Industries Limited, Japan, and Mr. Kanwaljeet Jawa, Chairman & Managing Director of Daikin India inaugurated the facility in the presence of Mr. Masayuki Taga, Consul-General, Ms. Nivruti Rai, Managing Director & CEO, Invest India, Mr. Sujan Chinoy, Director General MP– IDSA & Former Indian Ambassador to Japan. Dr. Ravindra Sannareddy, Founder Managing Director. This strategic move underscores Daikin’s unwavering commitment to pioneering technology, sustainable practices, and fostering regional growth.

Welcoming the dignitaries and guests Mr. Kanwaljeet Jawa said,”This new manufacturing plant in Sri City enhances our production capabilities and strengthens our position as a leading provider of energy-efficient and sustainable HVAC solutions in the region. The expansion will contribute to Daikin’s continued success in India and foster long-term partnerships. Daikin is also the primary investor in the government’s Production Linked Incentive scheme, actively championing domestic air conditioner manufacturing.”

Speaking at the ceremony Dr. Ravindra Sannareddy, Founder Managing Director said, “Daikin’s achievements and commitment to India’s Atmanirbhar strategy and ‘Make in India’ ambition are commendable. With the existence of favourable ecosystem for white-goods sector as well and with the presence of several major AC brands, now Sri City is regarded as the ‘cool capital’ of India. “ Daikin’s focus on skill development aligns with empowering a competent workforce for both the company and the community,” he added.

Commenting on the occasion, Mr. Masanori Togawa, President & CEO, Daikin Industries said “Daikin, with 100 production units globally and a customer base in 170 countries, is expanding its manufacturing presence in India. The country’s dynamic market and skilled workforce align with Daikin’s mission, and the new facility will elevate HVAC solutions and contribute to industry growth in India and surrounding regions.”

Ms. Nivruti Rai acknowledged her satisfaction that Japan consistently views India as a top investment destination. She also made the prediction that India’s AC business would triple by 2030 and stated her hope for Dakin to hold the largest possible share. She praised Sri City for being one of the top industrial hubs in the country, saying, “I am very happy to say that Sri City is like a’ready built home’ for investors to set up business, and more and more such hubs are needed in the country.”

Wishing prosperity to Daikin, Mr. Masayuki Taga praised the AP and Central Government for their support of Japanese investors, praising Sri City for its world-class infrastructure and emerging as a viable investment destination.

Mr. Sujan Chinoy emphasized the strong cultural and commercial ties between Japan and India, highlighting Japan’s significant presence in all manufacturing sectors and praising Daikin’s efforts in talent development in the HVAC business in India.

Mr. D. Balamurugan, IAS, Joint Secretary, DPIIT, Ministry of Commerce & Industry, GOI and Mr. Kiran Salikireddy, Group CEO, Andhra Pradesh Electronics & Information Technology Agency (APEITA), Mr. V. Ramakrishna Reddy, Dy. Chief Inspector of Factories, Tirupati and Mr. Ramanaiah, District Fire Officer, Tirupati were also present.

The new plant, which offers employment for 3000 people, was built in 75.5 acres. It reaffirms Daikin’s commitment to excellence and innovation and is strategically positioned to cater to the increasing demand for state-of-the-art air conditioning products manufactured in India, both domestically and internationally. Emphasising the company’s commitment to sustainability and environmental responsibility, this state-of-the-art factory aligns with Daikin’s aspiration to achieve Net Zero CO2 emissions by 2050. The facility is dedicated to the development of climate-friendly air conditioning solutions for markets in West Africa, Sri Lanka, Bhutan, Nepal, Bangladesh, the Middle East, South America, and East Africa.

About Daikin Airconditioning India Pvt. Ltd.:

Daikin Airconditioning India Pvt. Ltd.( DAIPL) is a 100% subsidiary of Daikin Industries Ltd., Japan, a global leader in the manufacturing of commercial-use and residential air conditioning systems. Backed by the superior technology, the organization offers a wide range of energy-efficient air conditioning solutions to the Indian customers. It has been successfully offering premium air conditioning solutions in the Indian market for large-scale projects. Robust growth is forecasted in India’s air-conditioning market in the future and Daikin intends to further increase its market share of residential and large-scale projects.