A O Smith, US based manufacturer of water heaters is planning expansion in India and increasing capacities at its plant located in Bangalore. The company has already invested Rs 165 crore in India.
The company has recently introduced five new water heaters specially designed for the India market.
It aims to increase the market share by 18 per cent in the next two years.
Commenting on this priority set for the Indian market, David Warren, vice-president of emerging technology and market development, said “We are the first U.S. water heater business to enter the India market supplying premium quality residential and commercial water heaters to the markets. With an increasing demand for energy efficient product from consumers and with our aim to provide our consumers with world-class benefits, we have launched five new water heaters with distinctive features to cater to wide range of household and commercial requirements.”
He added, " After expanding our business in China, now our aim is to expand business in India. Our share in Chinese market is 26 per cent and is constatly growing."
Tamal Chaudhuri, Managing Director, A O Smith India Water Heating Private Limited said, “Keeping in mind the increasing environmental concerns in India and in our constant endeavor to provide our consumers with exceptional offerings, we have developed this advanced technology in residential water heaters which are highly energy efficient and environmental friendly which consumes only 40% of the electricity as compared to other traditional water heaters”.