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Carrier to step up investments in India by USD 800 million: CEO David Gitlin


Florida-based Carrier, a global heating, ventilation and air conditioning giant, is looking to ramp up investments in India, chairman and chief executive David Gitlin tells ET’s Mohit Bhalla in an interview. Edited excerpts:

What do you make about the general business environment in India?

We’ve been very positive about the business environment for decades. We established a presence here in 1987. I feel like we are at an inflection point in India. We’ve been bullish on India for very many years. We’ve established a very strong presence, especially on the commercial heating, ventilation and air conditioning (HVAC) side, but we feel India will go through a phase of exponential growth and we’re determined to be right in the middle of that.

We have a strong manufacturing presence here. We are going to significantly increase it. We have a strong supply chain, we are going to increase that 4X over the next five years. We have a strong engineering and digital presence, and we are going to significantly expand that. When we look globally, we are probably as, if not more, bullish on India than any country in the world right now in terms of where to invest.

What type of investment are you looking at to meet your expansion targets here?

We’ve invested over $1 billion in India over the last decade and we are going to increase that by $800 million over the next 5 years. A lot of it is going to start with manufacturing. In our Gurugram facility, today we do high-end commercial air-conditioning systems and chillers. We are going to be adding content at the high end to produce tropical compressors that can localise our ability to address some of the bigger establishments in the country. It starts with significant further localisation on the manufacturing side and our experience is that once you do that it feeds on itself. Starts with manufacturing, then you are going to grow the supply chain, then you win more content, you win more service agreements and then more digital work follows. Then you add more service folks and more technicians. So, once we start to build more manufacturing in the country, not only for India but for export as well, that is going to feed on itself with significantly more job growth.What are your global customers saying? Do you see them setting up more physical infrastructure in India?

Absolutely 100%. Even the success of the G20 Summit is a testament to that. India has established itself on the world stage in such a profound way. It’s in a unique phase that a lot of our peers in the US are trying to get in a very significant way.


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