Veira invests ₹450 crores to increase manufacturing capacity in Noida

Veira invests ₹450 crores

Veira, a leading consumer electronics manufacturer, is investing 450 crore in a Greater Noida plant to boost its air cooler and washing machine manufacturing capacity, increasing production from 100,000 to 500,000 per year.

Veira, a major consumer electronics and appliance maker, plans to dramatically increase its current manufacturing capacity for air coolers and washing machines with a 450 crore investment in a new manufacturing plant in Greater Noida. This investment will increase the company’s current production capacity from 100,000 to 500,000 washing machines and air coolers per year. Veira, a trusted OEM/ODM partner, already manufactures air coolers for 23 and washing machines for 25 leading Indian and international manufacturers. This reinforces its commitment to local production and the ‘Make in India, Made for India’ ethos, solidifying its leadership in consumer appliance manufacturing.

Veira’s investment will focus on establishing manufacturing infrastructure in the new facility, which will be housed in two state-of-the-art facilities in Noida’s Sectors 81 and 85, totaling 500,000 square feet. This involves purchasing moulding machines, which are required for shaping components, as well as cooling systems, auxiliary equipment, and a dust control system, in order to increase the facility’s total manufacturing capacity and new moulds, in addition to completely automatic production lines and high-quality R&D. This investment not only increases manufacturing capacity and technology, but it also actively contributes to localising production, creating jobs, improving R&D, and supporting skill development in India.

With the air cooler market projected to grow at a CAGR of 12.1 percent and increasing demand for washing machines among Indian consumers, this investment strategically addresses market demands and opportunities. Veira boasts a vast manufacturing capacity under Consumer appliances, including air coolers, Washing Machines (Commercial & Household needs), and Smart TVs. Additionally, the company plans to enrich its existing product portfolio of washing machines by introducing semi-automatic washing machines by the end of the month.

Ankit Maini, Director at Veira, said, “This expansion marks our commitment to serving both domestic and international markets. We recognize significant export potential, particularly in light of the government’s ambitious goal of achieving a $300 billion electronics industry. We anticipate these product segments to contribute 15 percent to our revenue by the end of FY 2025. Beyond business, this initiative empowers local talent, fosters innovation, and contributes to the economic prosperity of our country.”

Already renowned as the largest manufacturer of Smart TVs in India, and the pioneer Indian ODM/OEM to offer multiple operating systems for smart TVs, Veira continues to lead the way in technological innovation with an enhanced focus on a comprehensive range of consumer appliances.

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