Voltas Beko to export Make in India products

Voltbek Home Appliances, the joint venture between Tata-owned Voltas and Turkey's Koc Group entity Arçelik, has plans to foray into the overseas market with products either under its own brand Voltas Beko or act as a global production hub for Koc Group. The JV, which has just launched 100 new models in the Indian market in categories like refrigerators, washing machines, microwave ovens and dishwashers, will make the global foray from its upcoming plant in Gujarat which will be operational from next year. The export focus will be mainly on entry-level appliances like direct cool refrigerators and semi-automatic washing machines. Pradeep Bakshi, MD and CEO at Voltas, said commercial production in the Gujarat plant will start within the second quarter of next fiscal year. “There are plans to export the products to Africa and Asian countries either under Voltas Beko range or through any of the Koc Group brands.” The company will start production of direct cool and frost-free refrigerators and washing machines. Bakshi said the joint venture will invest Rs 1,140 crores ($157 million) in next five years in marketing, sales and the plant. In the first year itself, the company will invest Rs 150 crores ($20 million) in marketing to build the Voltas Beko brand. He said, “We are targeting Rs 10,000 ($1.38 billion) crore revenue by 2025 and around 10 per cent share of the domestic appliances market.”