Sunil Mittal Joins Forces with Haier-A ₹17,000 Crore Power Play to Dominate Indian Homes

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In a bid that is set to transform India's vibrant consumer durables market, Bharti Airtel founder Sunil Mittal is set to acquire Haier India, the domestic subsidiary of Chinese home appliance major Haier Smart Home Co., in a deal that is estimated to be worth around ₹17,084 crore ($2 billion). The acquisition, which is for a 49% stake, would be one of the biggest private investments in India's white goods segment to date.

Mittal, one of India's most powerful business leaders, is teaming up with international private equity giant Warburg Pincus for this high-profile deal. If completed, the transaction would have Mittal and Warburg Pincus become major shareholders in Haier Appliances (India), joining hands to benefit from the rising demand for refrigerators, air conditioners, washing machines, and televisions in the country.

Haier India has become a serious challenger in the Indian market, placing third after Samsung and LG in home appliances. The firm recorded a 36% rise in revenue to about ₹8,900 crore in 2024 and is set to cross ₹11,500 crore in 2025, led by strong consumer demand and ambitious expansion plans. Haier's side-by-side refrigerators have accounted for a 21% market share in India, underlining the brand's increasing appeal among Indian consumers.

The planned investment is at a time when India's home appliance industry is growing at a fast pace driven by increasing disposable income, urbanization, and a move towards high-end, lifestyle-orientated products. The industry was worth $77.74 billion in 2024 and is expected to grow by a 5.7% annual rate to reach $135.33 billion by 2034.

Haier has already invested ₹2,400 crore in its Pune and Greater Noida plants and expects to spend over ₹1,000 crore more by 2028 to expand output capacity, mainly in air conditioners. The president of the company, NS Satish, has spelt out ambitious plans to boost production to meet surging demand, underlining the strategic significance of the Indian market for Haier's global aspirations.

While the Mittal-Warburg Pincus consortium is in pole position, the deal is not yet sealed. Haier may still reconsider the sale, and other heavyweight investors-including Reliance Industries, Temasek Holdings, GIC, and Abu Dhabi’s Mubadala Investment-have previously expressed interest in acquiring a stake.

If successful, this deal would represent a major diversification for Sunil Mittal, whose commercial empire has traditionally revolved around telecom and digital services. For Haier, the alliance offers not only new capital but also extensive local market knowledge and improved distribution, manufacturing, and after-sales capabilities.

The culmination of these talks is eagerly anticipated, as it may act as a bellwether for more high-profile tie-ups in India's rapidly changing consumer appliances segment.

Sources: Times of India, Angel One, Reuters, BusinessWorld, Business Standard