Jmatek Announces Plans To Invest 100 Crore To Set Up Development & Production Unit. India To Be Export Hub For Asia, Middle East & Africa.
JMATEK, a global market leader in evaporative air coolers and portable air conditioners, has announced that India will be its product development and export hub for Southeast Asia, the Middle East, and Africa. The company will invest Rs.100 crore to expand its manufacturing capacity in India and aims to establish a design and development center as well as a new production facilities.
The new product development capacity will facilitate exports of both Honeywell and Airtek brand products to over 20 countries. “We have one manufacturing facility in the Delhi NCR region. We would like to have 1 to 2 more over the next few years,” said Jmatek CEO Naresh Kumra. “Our aspiration is to export 1,00,000 – 2,00,000 units over the next 3 years”, he added.
The company launched its Airtek brand line of air coolers earlier this year in various markets across North India and will be expanding its presence pan-India in the coming years. Establishing a local supply chain will streamline production costs and allow the company to position itself competitively in the Tier II and III markets outside the major metros.
Kumra strongly believes in the potential of non-metro markets. According to him, “While large metros in India are exploding with population growth, India still largely lives in smaller cities, towns, and villages. Our coolers are very energy efficient and offer a superior alternative for cooling during the summer.”