Daikin acquires land to expand its capacity

Cool business: A man reacts during rainfall in New Delhi amid a heatwave. Temperatures across India have tested record levels this year, posing health risks, hurting agriculture and potentially weakening economic activity. — Reuters

MUMBAI: Daikin Industries Ltd, the world’s largest manufacturer of air conditioners, is looking to expand in India as it responds to consumer demand for what’s become a necessity as temperatures soar.

The Japanese company has signed a memorandum of understanding to acquire an additional 13.4ha to build a new plant near its current factory in southern India, chief executive officer of Daikin’s India operations Kanwal Jeet Jawa said from the company’s Osaka headquarters last week.