New Delhi: Japanese consumer electric brand Sansui is re-entering the Indian market in partnership with Jaina Group, which would invest Rs 1,000 crore in next three years to set up a manufacturing plant, R&D unit, among others, a top company official said.
Jaina Group, which also makes cell phones under Karbonn brand, would invest Rs 500 crore to set up a manufacturing unit in Gurgaon, Haryana and another Rs 500 crore in R&D and other related investments. The Delhi-headquartered group, which has a 24-year license agreement with Sansui, also introduced its Sansui range of products, which includes smart TVs, washing machines, audio devices, air conditioners, refrigerators and small kitchen appliances. "The group plans to invest Rs 1,000 crore in Indian operations in the next three years and is eyeing a turnover of Rs 3,500 crore for Sansui brand in India by 2021-22," Jaina Group Managing Director Pradeep Jain said.
The company plans to make India a manufacturing hub for Sansui brand products and would export to other geographies, including the neighbouring South East Asian markets, he added. Earlier, Videocon Industries, which is presently facing insolvency proceedings, had manufacturing and marketing rights for Sansui for the Indian market. Jain said the investments would be funded through debt and internal accruals. "This would be partly done by internal accruals of the group and partly by the financial institutions," he said. The production would start from June next year with LED panels, while production of cooling products such as air conditioners and refrigerator would also start by the next festive season, he said.
Spread over 30 acres, the new plant would directly employ around 4,000 people, once it reaches its full capacity. It would have lines for manufacturing TV panels, washing machines, refrigerators and air conditioners. "The new facility will serve as a key manufacturing hub for Sansui in South East Asia," Jain said. The Sansui range of products would be available online with channel partner Flipkart, and Jaina Group also has plans to make its range of products available at over 6,000 retail stores. Besides, the company is in talks to open exclusive Sansui brand retail stores. Established in 1995, Jaina group, which owns Karbonn Mobile since 2009, has interests in telecom, consumer durables and electronics sector. Besides Sansui, it has rights for Nakamichi and Gionee smartphones.