Carrier Global will invest ₹1,000 crore [1] to build a new chiller manufacturing plant in Sri City, Andhra Pradesh.
This expansion signals a strategic pivot to capture the rapidly growing cooling market in India. By establishing local production, the company intends to reduce reliance on imports and scale its infrastructure to meet rising regional demand.
David Gitlin, Chairman and CEO of Carrier Global, said the company sees unmatched growth potential in India [2]. The new facility in Sri City will focus on the production of chillers, which are essential for large-scale commercial and industrial cooling projects.
Carrier has set a financial goal to generate $1 billion [2] in revenue from the Indian market by 2030. To achieve this, the company is targeting a market share of roughly 50 percent [2] of the country's total air-conditioning demand.
The investment comes as Andhra Pradesh continues to position itself as a hub for industrial manufacturing. A groundbreaking ceremony for the facility is scheduled for a Wednesday [3].
The move reflects a broader trend of global HVAC companies localizing their supply chains within India to navigate trade barriers and lower logistics costs. Carrier's focus on chillers suggests a specific interest in the urban development and industrialization sectors of the Indian economy [2].
“Carrier Global will invest ₹1,000 crore in a new chiller manufacturing plant.”
Carrier's investment indicates a high-conviction bet on India's long-term urbanization and industrial growth. By targeting half of the nation's AC demand, the company is not merely seeking a presence but aiming for market dominance. This shift toward localized manufacturing in Andhra Pradesh aligns with India's broader 'Make in India' initiative, potentially lowering costs for consumers while increasing the company's competitive edge against local rivals.
