NEW DELHI: Notwithstanding the COVID-19 disruption, Japanese air conditioner maker Daikin will go ahead with its investment plan for setting up a third manufacturing unit in India, in a bid to augment the local production capacity, a top company official said on Thursday.
Daikin Airconditioning India, a wholly-owned subsidiary of Japan-based Daikin Industries, said the company is ready to take advantage of the - Phased Manufacturing Program (PMP), under which the government has announced incentives for manufactures to promote "Make in India".
The company, which has plans to set up a third manufacturing unit in South India, would make an announcement regarding it very soon after finalising the site. This new plant would cater to the African markets besides the domestic one.
"Daikin is ready to take the advantage of PMP and remain committed to invest in the third manufacturing unit to augment local production capacity," Daikin Airconditioning India MD & CEO Kanwal Jeet Jawa told .
Jawa, who is also the first Indian on the board of Daikin Industries, said PMP could be game-changer and is a "bold and pro-active step" from the government to boost Indian manufacturing capabilities and support the economy with more jobs, consumption, and trade.
Daikin India had already shared its intent on the local value addition during the past few months.