Haier signs MoU with UP Govt; to invest in state over next four years

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Consumer Electronics brand Haier has announced signing of a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh (UP) to set up its second industrial park in India to strengthen its commitment towards 'Make in India' initiative.

Haier, which will invest Rs.3069 crore in the state over the next four years, is expected to create almost 4000 new direct employment opportunities along with over 10,000 indirect jobs.

The expansion will serve as an opportunity for vendors and OEMs, bringing about an expanded business with increased local production and lesser imports of products.

To boost local manufacturing, Haier will set up its industrial park in Greater Noida to fulfill its commitment towards the central government's 'Make in India' initiative.

The MoU was signed in the presence of the Chief Minister of Uttar Pradesh, Yogi Adityanath and other dignitaries from the Government of Uttar Pradesh along with Song Yujun, VP, Global Appliances Haier Group and Managing Director, Haier Appliances India; Eric Braganza, President, Haier Appliances India and Sun, Director SCM Haier Appliances India.

"The new facility will not only help in augmenting our production capacity to address the increasing local demand but also in generating employment opportunities in the state. This agreement will enable us to further strengthen our presence and commitment in the country," said Eric Braganza, President Haier India.

"We are thankful to the Government of Uttar Pradesh for extending all the support to participate in the development of the state. We are confident that this move will not only benefit Haier as a brand but will also contribute towards the overall economic development of the country," said Song Yujun, VP, Global Appliances Haier Group and Managing Director, Haier Appliances India.