DAEWOO, a globally acclaimed Korean brand that provides refrigerators, washing machines, air conditioners, water purifiers, lithium hybrid inverters, televisions and more, has now extended its legacy to the vibrant Indian market. During an exclusive interaction with Mobility Magazine, Mr. H.S. Bhatia, Managing Director, Daewoo India, takes us through major plans related to manufacturing and expansion.
A Comeback
With a presence in over 110 countries worldwide, Daewoo is making a grand re-entry into India, a market that holds vast potential for growth, innovation, and strategic manufacturing. This move signals Daewoo’s renewed commitment to India’s remarkable economic journey, one defined by a growing middle class, rising consumer demands, and a manufacturing ecosystem that is increasingly capable of competing on the global stage. As Daewoo prepares to reestablish itself in India, the brand is bringing not only quality products but also a commitment to fostering economic prosperity, job creation, and sustainability.
Daewoo first entered India in the 1990s with an automotive focus, gaining popularity with its compact car, the Daewoo Matiz. However, financial restructuring led to the company’s withdrawal from the market by the early 2000s. Now, Daewoo’s decision to return comes at a critical juncture for India’s manufacturing sector. The ‘Make in India’ initiative and ‘Atmanirbhar Bharat’ vision have paved the way for increased local production, reduced import dependence, and a robust ecosystem of original equipment manufacturers (OEMs).
The Indian market today is vastly different from when Daewoo had left. Today the market is characterized by a rapidly expanding middle class, urbanization, and a strong demand for quality products at affordable prices. Daewoo is entering a manufacturing landscape that has matured significantly, with local OEMs now able to produce high-quality products that meet international standards. With this supportive ecosystem in place, Daewoo’s re-entry strategy focuses on integrating local resources and forming meaningful partnerships with Indian OEMs to deliver innovative products tailored to the needs of Indian consumers.
Focus on Competitive Pricing
In the highly competitive Indian market, Daewoo understands that affordability is essential. To meet this demand, the company is working closely with local OEMs to streamline production processes, reduce costs, and increase efficiency. India’s OEM ecosystem has evolved significantly over the past few years, creating an environment where Daewoo can maintain high quality standards while controlling production costs. Daewoo’s collaboration with local OEMs is a core part of its competitive strategy. This approach not only allows Daewoo to offer affordable products but also supports Indian manufacturers by transferring knowledge and creating a base for advanced manufacturing capabilities in the country.
Robust Local Manufacturing
One of Daewoo’s primary goals for its return to India is to increase local manufacturing, reducing reliance on imports and investing in India’s economy. The company aims to source up to 70% of its production components locally within the next two years. Daewoo’s commitment to Indian manufacturing aligns well with the government’s ‘Make in India’ initiative, which seeks to establish India as a global manufacturing hub. By emphasizing local manufacturing, Daewoo sees a lot of opportunity in the Indian market where almost 38%-40% remains unexplored. Additionally, local sourcing will enable the company to offer products at competitive prices without compromising quality. Over the next few years, Daewoo will evaluate the potential for establishing its own factory in India, an investment that would further cement its commitment to the market and provide long-term employment opportunities.
Diversified Product Portfolio
Daewoo’s re-entry into India comes with an expansive product portfolio that reflects the evolving needs of Indian households. In the home appliance segment, Daewoo’s focus is on essential products like refrigerators, washing machines, air conditioners, and televisions, which are becoming household staples in India. Recognizing that comfort and convenience have become increasingly important, Daewoo plans to deliver energy-efficient appliances that cater to the unique demands of Indian households, including climate adaptability and affordability.
Innovations Driving Health
Daewoo’s innovative spirit is evident in its product lineup, which includes cutting-edge technologies designed to enhance quality of life. Among its latest offerings, Daewoo is introducing the Alkaline Water Purifier, a product that elevates the pH level of drinking water using electrolysis, promoting health and well-being. Additionally, the company’s lithium hybrid inverter is a next-generation product that promises fast, accurate, and stable power, with a pass rate of up to 98% and an in-built lithium-ion battery. Both products reflect Daewoo’s commitment to sustainable and health-conscious solutions, which are increasingly in demand among Indian consumers.
These innovations highlight Daewoo’s focus on combining advanced technology with affordability. The water purifier and lithium hybrid inverter are designed to meet the practical needs of Indian households, ensuring that Daewoo’s products not only provide comfort but also contribute to a healthier, more sustainable lifestyle.
Future Goals
As Daewoo embarks on this new chapter in India, the company’s vision extends beyond short-termgains. Daewoo aims to become a trusted household name, synonymous with quality, reliability, and innovation. To achieve this, the company is committed to investing in local talent, establishing training centers, and collaborating with Indian educational institutions to develop a skilled workforce capable of driving advanced manufacturing processes.
With access to cutting-edge global technology, Daewoo has ambitious plans for the Indian market. Over the next few years, the company intends to introduce 350 new products that blend innovation, affordability, and quality, with the goal of enhancing the lives of Indian consumers. By building a diverse portfolio of products that meet the evolving needs of Indian households, Daewoo is setting the stage for long-term growth and brand loyalty.
Mr. Bhatia shares, “With a legacy of excellence and a new chapter defined by growth and transformation, Daewoo’s journey in India promises to be one of revival, adaptation, and success in one of the world’s most dynamic markets. We have access to the global technology and will be bringing next 350 more innovative products to make the life of Indian consumer happier and more comfortable more affordable. Our aim is to make a significant portion of our products in India.”
Covered By: Mobility India / Daewoo
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