Voltas, the refrigeration company from the Tata Group, announced the launch of the first products from its 50:50 venture with Turkey’s Arçelik.
A total of 100 models of home appliances, including refrigerators and washing machines, will be introduced to the Indian market under the Voltas Beko brand over the next three months, it added.
The two companies had announced three months ago that they will set up their white goods plant in Sanand in Gujarat.
At present, the products seem to be imported, as the factory gets ready. “In sync with the government’s ‘Make in India’ initiative, by FY’20, we will be manufacturing these products in the facility at Sanand, Gujarat,” it said.
Among the 100 items scheduled to be launched by Voltbek Home Appliances in the next three months are 44 models of Refrigerators, 40 models of Washing Machines, 12 models of Microwaves and Ovens and 7 types of Dishwashers.
Noel Tata, Chairman of Voltas, said the tie-up will help his company bring global products to the Indian market.
“Arcelik is a market leader in Europe and is on the cutting edge of innovation in the consumer durable segment. Voltas has established its credentials as a market leader in the AC segment with wide distribution reach and has strong brand recall. Together, we hope the Voltas Beko products will become an integral part of every Indian household,” he said.
India, home to the world’s fastest growing major economy, has seen strong demand for white goods. Players like Whirlpool, Samsung, LG, Videocon and Godrej dominate the local market.
The white goods market is currently valued at Rs 43,000-crore, excluding air conditioners.
According to industry data quoted by Volta, the Indian market for ‘major domestic appliances’ grew by nearly 9 percent per year on average, compared with the 3 percent growth seen in the global white goods market.
Going forward, the consumer durables market in India is slated to grow at 10–12 percent per annum, Voltas added.
Arçelik is part of Koç Group – Turkey’s largest industrial and services conglomerate.
“With a vast population and significant economic growth prospects, India offers huge potential to support our continued plans for global expansion,” said Hakan Bulgurlu, CEO, Arçelik.
