This is expected to be accomplished mainly through acquisitions.

``We are looking at setting up or acquiring manufacturing and marketing outfits in South Africa, Vietnam, Indonesia, Dubai and Bahrain as part of the second phase of our investment plans,'' said VN Dhoot.

In the first phase, Videocon International has invested close to Rs 950 crore on integrating new products in its product portfolio and consolidating its operations in the Indian market.

The company is already present in the overseas markets like Middle East and Italy in Europe. Early this year, Vidocon International had set up a 100 per cent marketing subsidiary - Paramount Global Ltd to market its products in the international market. The company currently has close to 25 branches across the globe.

``Initially we are targeting the US and West Asia which have large NRI population. Subsequently, Paramount will spread its operations all over the world. We are considering advertising to support our global marketing campaign,'' said Dhoot.

In a bid to hit the bull's-eye in the new markets, the company has adopted an aggressive pricing strategy--what with the products being priced at a 20 per cent discount to those in the Indian market.

According to a company spokesperson, ``We plan to sell the products in Europe under our brand name with the `Made in Europe' label.'' The company hopes that this will provide its products the required marketing edge to sell the products in markets like the US.

Videocon International has been exporting to the Middle East since 1993-94. The company's sales in the Middle East have reportedly touched $12 million in the previous fiscal. The company claims a 3.5 per cent market share of the CTV market in Dubai alone.

Videocon International also holds a 50 per cent stake in compressor manufacturer, Necci Compressori of Italy. The company is currently awaiting RBI approvals to increase this stake to 84 per cent.

The European markets will be catered to by the company's plant in Italy. The company intends to take the original equipment manufacturer (OEM) supplier route in Europe to begin with. The company has exported 2,500 washing machines and 15,000 refrigerators to Italy so far.

India will be the overall manufacturing base for all components on account of the low cost of labour, say company sources. The company recently modernised its Aurangabad plant at an investment of close to Rs 500 crore. In addition to this, around Rs 450 crore has been invested in a new facility in Bangalore. The company is also planning to set up two additional plants in the country.