Gaurs Group Plans US$ 27.3 million Investment in Precast Construction Facility in Noida INDIA: Gaurs Group has announced plans to invest US$ 27.3 million (₹2500 million) in establishing a precast manufacturing and modular construction facility in Noida. The investment follows a memorandum of understanding with Elematic India, part of Finland-based Elematic Group. In the first phase, around US$ 10.9 million (₹1000 million) will be used to build a precast plant that will produc

GDP INDIA: India’s economy expanded by a stronger-than-expected 7.8% in the quarter ending December, surpassing the 7.2% growth forecast in a Reuters survey of economists.  The latest figures follow a revision in the methodology used to calculate economic output, aimed at enhancing accuracy. Under the updated series, the previous quarter’s GDP growth has been revised upward from 8.2% to 8.4%.  The government has also increased its GDP growth projection for financial year 2026

Air con INDIA: Consumer electronics brand Acerpure, part of Taiwan-based Acer Group, plans to leverage insights from its growth in India to strengthen its presence in other emerging markets such as Philippines, Vietnam, Thailand, and Indonesia as part of its broader global expansion strategy, a senior company executive said on Thursday.  The company, which formally entered India’s air conditioner market after conducting test marketing last year, is also exploring export oppor

Watertec Targets Rapid Growth in CP & Sanitaryware Business India: Watertec India, backed by Warburg Pincus, is planning to significantly expand its chrome plated (CP) and sanitaryware segment, which is expected to grow 20–25% annually and reach about USD 48 million in topline within five years. The Coimbatore-based company reported revenues of around USD 60 million in FY26, with polymer bath fittings contributing 70%, pipes 20%, and CP & sanitaryware about 10% of topline. Th

Daikin Opens Multimillion-Dollar HVAC Facility in Christchurch New Zealand: Daikin has opened a new multimillion-dollar logistics site in Christchurch, with the Hornby facility becoming the largest HVAC warehouse in the South Island and supporting the shift toward electric, low-emission buildings. The site expands logistics operations, develops skilled workers, and includes a system to intercept residential and commercial heat pumps to recover and recycle refrigerants before

Xiaomi Expands In-House Home Appliance Production with New Wuhan Plant China: Xiaomi has begun in-house production of home appliances, opening its first dedicated plant in Wuhan with an investment of USD 350 million, covering 500,000 square meters and capable of producing up to 7 million units annually. The company plans to manufacture 20% of its air conditioners and other products internally and introduced a new air-conditioning system priced at about USD 7,000, matching riv

Late Summer Delays Air Conditioner Demand in South India India: A report by Axis Capital said a late start to summer has delayed the seasonal demand for room air conditioners (RAC) in South India by about 15 days, with industry sales declining 20% in January and around 10% in February. The upcoming rollout of Bureau of Energy Efficiency 2026 models is expected to raise 5-star AC prices by 10–12% and 3-star units by 6–7%, while inventories remain elevated but manageable. The n

MHI Thermal Systems Establishes Air Conditioner Production Base in India India: On February 24, 2026, Mitsubishi Heavy Industries Thermal Systems, Ltd., part of Mitsubishi Heavy Industries, announced the launch of Mitsubishi Heavy Industries-IAPL Air Conditioners Private Limited, a joint venture with IAPL Group Private Limited that began operations on January 22 to establish a local air-conditioner production base in India. The move aims to strengthen the production and sales

Gurugram Overtakes Mumbai as India’s Largest Luxury Housing Market India: Gurugram has surpassed Mumbai to become India’s largest luxury housing market, recording transactions worth about USD 2.9 billion for homes priced at ₹10 crore and above in 2025, an 80% rise from about USD 1.61 billion in 2024, according to a joint report by India Sotheby’s International Realty and CRE Matrix. Meanwhile, Mumbai’s luxury segment recorded about USD 2.64 billion in 2025 compared with about

Nestoria Group Launches Large-Scale 3D Printed Housing Project in Dholera Smart City India: Nestoria Group has initiated a large-scale 3D printed housing development in Dholera Smart City, marking one of the broadest implementations of 3D construction technology in the region and positioning the city as a key hub for infrastructure transformation. The project supports India’s Viksit Bharat 2047 vision by accelerating construction timelines from months to days through automate

Union Government Approves 5,000 Houses for Displaced People in Manipur India: The Government of India has approved the construction of 5,000 houses for internally displaced persons in Manipur under the framework of Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) for FY 2025–26, following a proposal by Chief Minister Yumnam Khemchand Singh. The initiative comes after ethnic conflict between the Meitei and Kuki communities that began on May 3, 2023, which resulted in more than 260

Australia’s Total Construction Work Falls 0.7% Despite Growth in Building Activity Australia: Construction activity in Australia showed mixed performance in the September quarter, according to official data. Total construction work done fell 0.7% to USD 52.85 billion, while building work increased 4.0% to USD 28.84 billion and engineering work declined 5.8% to USD 24.01 billion. Meanwhile, the trend estimate for total construction work rose 0.7% to USD 52.12 billion during th

Centre approves construction of 2.88 lakh houses in urban areas under PMAY 2.0 India: The Government of India has approved the construction of around 2.88 lakh houses under the Pradhan Mantri Awas Yojana (Urban) 2.0, according to an official statement. With the latest approval of 2,87,618 houses, the total number of sanctioned homes under PMAY-U 2.0 has crossed 13.61 lakh units. The decision was taken during a meeting of the Central Sanctioning and Monitoring Committee, chair

Grohe INDIA: GROHE has launched its Matte Black Ceramics collection in India, extending the finish across its full bathroom portfolio, including GROHE and GROHE SPA ranges. The move responds to growing demand among Indian consumers for more personalized, design-led interiors beyond traditional white ceramics. The brand says the introduction of matte black reflects a broader shift toward understated luxury, cohesive aesthetics, and timeless colour choices. By offering coordina

IIT Delhi INDIA: Researchers at the Indian Institute of Technology Delhi are developing a high-efficiency hybrid air conditioning system designed to cut electricity consumption significantly as demand for cooling rises in India. Early tests of the laboratory-scale prototype suggest it could reduce energy use by around one-third compared with conventional room ACs. The innovative design combines traditional vapour compression with a compact add-on module that directly removes

US–Indonesia Trade Deal Cuts Tariffs to 19% and Secures Palm Oil Exemption Indonesia: Indonesia and the United States finalized a trade deal on Thursday reducing US levies on Indonesian goods to 19% from 32%, with exemptions for palm oil accounting for about 9% of Indonesia’s exports as well as coffee, cocoa, rubber and spices. The agreement was signed in Washington by Airlangga Hartarto and Jamieson Greer after months of negotiations. The 19% rate aligns with US deals with M

Electronics Demand Set to Surge as India Crosses US$3,000 Per Capita GDP: Voltas MD INDIA: Voltas is sharpening its positioning as a full-spectrum electronics brand as India approaches a US$3,000 per capita GDP milestone, a level Managing Director Mukundan Menon says historically triggers a decade of strong consumption growth. The company currently holds around 18% share in air conditioners and is targeting 20% by 2030, with annual gains of about 1%. India sells nearly 15 mil

Acquires Stake in Advantek Air Systems India: Fabtech Technologies Cleanrooms is strengthening its air handling and controlled-environment solutions by acquiring additional shares in Advantek Air Systems, a manufacturer of AHU and HVAC equipment for the commercial and pharmaceutical industries. At a board meeting held on 12 February, Fabtech approved the purchase of 38,673 additional shares in Advantek for approximately Rs. 2.55 crore, (USD 310,000)  increasing its existing s

Data Centre Cooling Market India: Voltas Limited and Blue Star Limited are intensifying their focus on India’s fast-growing data centre (DC) segment as the country’s installed capacity is projected to exceed 2 GW by 2026, up from over 1 GW currently, with analysts forecasting a five-fold expansion to over 8 GW by 2030. Blue Star, the second-largest homegrown player in India’s room air conditioning market, is developing chillers and liquid cooling systems, including Cooling Di

Thailand's Rise as Global Export Powerhouse for Air Conditioners Thailand has emerged as ASEAN's leading air conditioner (AC) export powerhouse, producing around 21 million units in 2024 and ranking as the world's third-largest exporter after China and Mexico (marginally behind Mexico by value). Thailand’s export revenues hit approximately 7 billion USD in 2024, with over 19 million units shipped globally. Key production clusters thrive in Thailand's Eastern Economic Corridor