We are re-entering India to cater to evolving needs of Indian consumers: Daewoo India MD

Daewoo India, a globally acclaimed Korean brand, has now extended its legacy to the vibrant Indian market.

- RITWIK MUKHERJEE

The company is re-entering the Indian market, focusing on consumer electronics and energy solutions, with a target of Rs 500 crore in revenue by FY27. With a presence in more than 110 countries worldwide, DAEWOO is dedicated to enhancing consumer experiences with its range of consumer durable products: 1) Smart TVs: SMART ANDROID LED TV Range, webOS HUB, SMART LED TV Range. 2) Ultimate Interactive Flat Panel (IFP). 3) DAEWOO lite Touch Interactive Display and 4) Residential and Commercial Alkaline Water Machines.

Speaking to The Statesman exclusively, H S Bhatia, Managing Director of DAEWOO India, delves at length on wide-ranging issues like the Korean company's India re-entry plan, strategies, investment plans, tie-up plans, to mention a few.

Excerpts:

Q: Why did Daewoo decide to re-enter India? What potential do you see in the Indian market in terms of market size and growth?

A: DAEWOO decided to re-enter India due to the country's rapid economic growth and increasing consumer demand, positioning it as one of the fastest-growing consumer markets globally. India presents a significant opportunity for DAEWOO to re-establish its brand and tap into a burgeoning market. The potential in India is substantial, with a growing middle class and increasing disposable income driving demand for advanced and affordable consumer products.

Q: What is your India strategy this time around?