Carrier Air Conditioning & Refrigeration Ltd – To Invest ₹1,000 Crore in Sri City

Expert Analysis:

• Carrier Air Conditioning & Refrigeration Ltd, the Indian arm of Carrier Global Corporation, has signed a deal to invest around ₹1,000 crore in setting up a new manufacturing unit at Sri City, Andhra Pradesh.

• Sri City already accounts for nearly 40% of India’s air conditioner manufacturing, and with expansions by players like LG Electronics and Daikin Air Conditioning India, its share could rise to 60% by 2027 and 70% by 2028, strengthening its position as India’s “Cooling City.”

• The investment further deepens the HVAC manufacturing ecosystem in the region, which currently hosts 10 HVAC manufacturers and around 32 suppliers, enhancing cluster-based scale advantages and supply chain efficiencies.