NEW DELHI: Bharti Enterprises and Warburg Pincus on Wednesday announced a strategic investment in Haier India, a subsidiary of Chinese consumer electronics maker Haier Group, picking up a collective 49% stake in the company. This is the second major Chinese company to have sold a sizeable stake in its Indian business after MG Motor, a unit of SAIC, which divested stake in favour of Sajjan Jindal’s JSW Group. The size of the Haier deal was not disclosed.The companies said in a statement that the strategic collaboration will accelerate Haier’s growth and expansion in India by bringing together and leveraging the company’s global excellence in innovation, Bharti’s strong standing and networks, and private equity firm Warburg Pincus’ strong track record of scaling brands. Haier Group will retain a 49% ownership stake in Haier India, with the remaining 2% held by Haier India’s management team.

“The partnership will bolster Haier India’s ‘Made in India, Made for India’ vision by deepening local sourcing, expanding manufacturing capacity, driving product innovation, and accelerating market penetration,” it said. The new capital infusion will also enhance Haier India’s competitiveness across the entire value chain, the statement said.The move comes at a time when the consumer appliances market in India is witnessing growth, specially in the premium category. Haier India has a diversified product portfolio, spanning ACs, refrigerators, televisions, washing machines, and kitchen appliances. Over the past seven years, the company has achieved a CAGR of approximately 25% in India, and the company said it has seen a robust performance across product segments and geographies.By combining global innovation with local insights and execution, the partnership will strengthen Haier India’s leadership position in the rapidly growing Indian consumer durables segment, the statement said.Bharti said is confident that Haier India will further consolidate its standing as a leading brand in India, powered by global innovations.Haier said the collaboration with Bharti Enterprises and Warburg Pincus marks an important milestone in Haier India’s development journey.