Midea Sets down Roots in Indian Market

Currently in India, annual sales of air conditioners amount to 6–7 million units, which remains about one-tenth of China’s 50–60 million units. India has improved its foreign investment policies, with a new goods and services tax (GST) system that was introduced in 2017. Meanwhile, India has a high 20% tariff on household electrical appliances. Under such circumstances, increasing numbers of air conditioner manufacturers have started local production in India.