Eyeing expansion in the domestic washing machine and air cooler markets, Noble Group has invested ₹3.5 billion in a new manufacturing unit in Rajasthan.
Noble Group, an Indian manufacturer of consumer electronics and appliances, announced on Tuesday an investment of ₹3.5 billion in establishing a new production facility in Ghiloth, Rajasthan.
The company stated that the investment will enhance its production capabilities, expanding washing machine output from 400,000 to 1 million units annually and increasing air cooler production from 300,000 to 600,000.
This expansion will also support Noble Group’s aim to capture a 15 percent market share in air coolers and an 8 percent share in semi-automatic and fully automatic top-load washing machines.
Commenting on the investment, Sarbjit Singh Kalra, Chairman of Noble Group, stated that the “Make in India” initiative has established a strong foundation for domestic manufacturing.
He further emphasised that Noble Group aims to support this vision by expanding its production facilities. As per his statement, the company aims to address the growing demands of Indian consumers with its innovative and quality products.
Besides the Indian government’s “Make in India” policies, BIS and PLI schemes drove the investment. The government has been encouraging local production to meet rising domestic demand.
Current product penetration rates in India, from 6 to 16 per cent, highlight substantial growth potential as per reports.
Headquartered in Noida, Uttar Pradesh, Noble Group caters to contract manufacturing services in consumer electronics and appliances, having worked with 31 major brands in India.
