Bharti Enterprises, led by Sunil Mittal, and global private equity firm Warburg Pincus on Wednesday announced a strategic investment in Haier India, the Indian arm of China’s Haier Group, marking one of the largest recent transactions in the consumer durables sector.
Following completion of the transaction, Bharti Enterprises and Warburg Pincus will collectively hold a 49% stake in Haier India. Haier Group will retain a matching 49% stake, while the remaining 2% will be held by employees.
Reshaping Ownership
The companies did not disclose the deal value or valuation, though industry executives estimate Haier India’s enterprise value at around Rs 15,000 crore, underscoring the scale of the business built by the Chinese major since entering India two decades ago.
Haier India manufactures air conditioners, refrigerators, televisions, washing machines and kitchen appliances from two production facilities located in Pune and Greater Noida. The company has steadily expanded local manufacturing and sourcing as part of its Made in India, Made for India strategy, even as competition in the consumer durables market has intensified amid aggressive pricing and frequent product refresh cycles.
In a joint statement, the partners said the strategic collaboration would accelerate Haier India’s growth and expansion by combining Haier’s global capabilities in product innovation with Bharti’s domestic standing and networks, alongside Warburg Pincus’ experience in scaling consumer brands into market leaders. The capital infusion is expected to strengthen Haier India’s competitiveness across the value chain, including manufacturing, distribution, product development and after-sales service.
Scaling “Made in India” and Digital Ecosystems
The domestic consumer appliances market has been growing steadily, supported by rising disposable incomes, changing lifestyles and increasing penetration of white goods beyond large urban centres. Haier India currently ranks among the top three consumer durables companies in the country across several categories. Over the past seven years, the company has delivered a compound annual growth rate of around 25% in India, one of the fastest in the sector, driven by broad-based demand across product segments and geographies.
Bharti Enterprises said it looked forward to playing a significant role in the evolving consumer durables industry and expressed confidence that Haier India would further consolidate its position as a leading brand in the country, supported by global innovation, improved customer service and a stronger consumer experience.
Warburg Pincus, which has previously partnered with Bharti group entities, said it was excited to join hands once again with the Indian conglomerate and to partner with Haier in a fast-growing market. The private equity firm said the investment reflected its ability to leverage its pan-Asia platform, local operating insights and global expertise to support long-term growth for market-leading companies.
Haier Group described the partnership as an important milestone in Haier India’s development journey, aligning with its broader approach of combining global capabilities with deep localisation in key overseas markets. Haier Appliances India, a wholly owned subsidiary of the Qingdao-headquartered group, entered the Indian market in 2004 and today has a dealer network spanning about 6,500 outlets nationwide. Its product portfolio includes refrigerators, air conditioners, washing machines, LED televisions, water heaters and microwave ovens.
The group has highlighted India as a priority growth market. Haier said its South Asia revenues grew by more than 30% year-on-year in the first quarter, with side-by-side refrigerators accounting for a 21% market share in India. Company executives have indicated an ambition to add Rs 2,000–2,500 crore in annual revenue, citing strong macroeconomic growth and relatively low appliance penetration compared with global peers. Haier India has earlier guided to revenues of around Rs 14,500 crore in FY26, positioning the business for its next phase of expansion following the strategic investment.