The Rs 300-crore Indian consumer electronics company, Mitashi, has forayed into the air-conditioner segment. Having entered the consumer durables segment in 2004, Mitashi already has LED TVs, DVD players, speaker systems and tablets and mobiles in its portfolio.
Rakesh Dugar, CMD, Mitashi, said, “What makes India a particularly interesting marketplace are numerous factors, namely, steadily increasing disposable incomes; a mammoth, ambitious middle-class; a relatively low penetration of air-conditioners even today; climate ranging from tropical to temperate; technological innovations that have led to greater energy efficiency and lower costs; and a competitive market where only the best can survive. With the Government of India expecting investment in the consumer electronics segment to double in the next two years, it’s good news for everyone.''