Carrier plans to invest $800 million in India over the next 5 years

Carrier, the global leader in air conditioning and refrigeration solutions, is set to make a significant investment in India. David Gitlin, Chairman & CEO of Carrier, in an interview stated that they plan to invest another $800 million in India over the next five years.

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Carrier which has been present in India since 1986, operates a manufacturing facility in Haryana. In the past ten years, the company has committed investments exceeding one billion dollars within the nation.

One of the key drivers behind this investment is the enormous opportunity presented by India’s low air-conditioning penetration. Gitlin stated, «Only about 8% of the residential homes in India today have air-conditioning compared to more than 90% in countries like the United States and Japan. So we see growth of air-conditioning both for residential and commercial growing exponentially.»