IoT In India Will Start From 2018 Beginning With ACs: VP Marketing, Whirlpool India
Home appliances maker Whirlpool India is looking to invest about Rs 200 crore on technological innovations and to increase production capacity. In an exclusive interview with BW Businessworld, Kapil Agarwal, Vice-President Marketing, Whirlpool India talks about goods and services tax (GST) roll out, ease of doing business in India, internet of things (IoT) devices and much more.
He said positive consumer sentiment is one of the major factors for an increase in disposable income in tier 2 and tier 3 cities. Edited excerpts:
Whirlpool has announced an investment of Rs 200 crore recently. Where exactly do you wish to use it?
India has been identified as a growth market for Whirlpool globally and the investment will be across innovative technology and capacities enhancement.
How do you see GST roll out for the home appliances industry?
GST is probably one of the most important fiscal reforms of the Indian government. As an organisation, the team has worked hard over the past couple of months to get ready for the new systems and compliances required for GST, including with our vendors and customers and we are fairly confident of transitioning to the new era smoothly. Once the transition is completed, we will start working on the value creation opportunities.
Do you believe India should work on ease of doing business? Do you see any change in this regard after Narendra Modi came into power?
We have seen several positive initiatives taken by Government. GST would be one of the examples followed by up-gradation of rural markets with investment on roads and infrastructure.
Your market is expanding in tier 2 cities, do you see it as a rising of Indian middle class?
Positive consumer sentiment is one of the major factors for an increase in disposable income in tier 2 and tier 3 cities. People are now inclining themselves to purchase only branded products. Also, the government's rural thrust makes it an opportune time for the company to step up investment in products for rural India. This is expected to continue for some time and will further spur demand given that home appliances are an underrated industry in these segment .i.e. one out five home has a refrigerator.
Is your product environment-friendly?
At Whirlpool, we take our environmental responsibilities very seriously. Just as we have taken a global approach to our home appliance business, we believe our world's environmental issues, such as climate change, must be addressed in a similarly comprehensive way.
This is why we continue to develop innovative products that minimize their impact on the environment while making our consumers' lives easier.
It is our advice that consumers owning Whirlpool products follow the guidelines above and contact Whirlpool when they are ready to discard a part or the product itself as Whirlpool will ensure that these are channelized for safe disposal in compliance with the E-waste Rules. Indeed, Green Sense – a take-back program initiated by Whirlpool - is to help consumers recycle Whirlpool branded appliances sold in India.
With IoT witnessing a global surge in demand, how does Whirlpool wish to upgrade its appliances to an IoT device?
IoT is still a nascent concept; however, we have integration of IoT in our products globally. IoT in India will start from 2018 beginning with air conditioners (ACs) followed with washing machines and refrigerators.
