India Notifies Customs Rules Ahead of Free Trade Agreement Implementation India/UK: India has notified the customs rules governing the determination of the country of origin for goods traded under the India-UK Comprehensive Economic and Trade Agreement (CETA), ahead of the agreement's implementation on 15 July. The new rules specify the eligibility criteria for preferential tariff treatment and the documentation required to claim reduced or zero customs duties. Products must

Samsung Wind-Free Air Conditioner Surpasses 20 Million Units in Sales South Korea/Global: Samsung Electronics has announced that cumulative global sales of its Wind-Free Air Conditioner have exceeded 20 million units as of June 2026, marking the product's tenth anniversary since its launch in 2016. The company said it will continue expanding its presence in the business-to-business (B2B) HVAC market across Europe, Asia, and Central and South America. In Europe, Samsung has su

South Korea: LG to Invest KRW 9.4 Trillion in AI Infrastructure and Advanced Manufacturing South Korea: LG has announced plans to invest KRW 9.4 trillion (USD 6.15 billion; EUR 5.25 billion) in the Yeongnam region by 2030 to expand artificial intelligence (AI) infrastructure and advanced manufacturing capabilities. The investment will focus on AI data centres, optical technologies, AI semiconductor core substrates and next-generation display technologies, with projects led by

HomePro Expands Omnichannel Strategy to Support Home Improvement Retail Thailand: HomePro, operated by Home Product Center PCL, continues to strengthen its position in Thailand's home improvement retail market through its nationwide network of large-format stores offering construction materials, home furnishings, kitchen and bathroom products, appliances and related services. The company has expanded its presence through new store openings, refurbishment of existing outlets a

Indonesia Approves US$333.5 Million for Nusantara Development in 2027 INDONESIA: Indonesia's House of Representatives has approved US$333.5 million in funding for the development of the new capital, Nusantara, in 2027, reaffirming the government's commitment to the long-term relocation project. Although the allocation is below the requested amount, it will support ongoing infrastructure works, including the construction of residential towers for the legislative and judicial i

Canada and the Philippines Target 2026 Free Trade Agreement Canada and the Philippines have agreed to conclude negotiations on a bilateral free trade agreement by the end of 2026 as part of a broader strategic partnership covering trade, defence, energy, labour mobility and tourism. The agreement was announced by Canadian Prime Minister Mark Carney following talks with Philippine President Ferdinand Marcos Jr. in Vancouver during the Philippine leader’s first official visit t

Grohe and Gaurs Group Sign Four-Year Residential Supply Agreement India: Grohe has signed a memorandum of understanding (MoU) with Gaurs Group to supply bathroom solutions for the developer's residential projects in Delhi-NCR. The four-year agreement is expected to cover approximately 40,000 homes across the company's upcoming luxury residential developments. Under the partnership, Grohe will supply bathroom fittings, showers and complete bathroom solutions, while selected re

European Heatwaves Increase Demand for Turkish HVAC Exports Turkey: Rising heatwaves across Europe are increasing demand for Turkish air conditioning and climate control systems, creating export opportunities for the country's HVAC sector. Industry representatives reported growing demand not only from southern Europe but also from central and northern European markets as higher temperatures influence cooling requirements across residential, commercial and industrial buildings

Autech Carrier Begins Mass Production of Residential Heat Pump Boilers South Korea: Autech Carrier announced on 2 July that it has started mass production of residential heat pump boilers at its manufacturing facility in Gwangju, South Korea. The new air-to-water heat pump system combines floor heating and domestic hot water supply within a single unit by extracting heat from outdoor air using electricity rather than burning gas or oil. The system can provide hot water at tem

Voltas Voltas is expanding exports of its air conditioners to Europe and the Middle East to improve the utilization of its existing manufacturing capacity. The company announced the initiative during its 72nd Annual General Meeting, noting that its manufacturing facilities are currently operating at around 80% capacity and that exports will help optimize production. The company also announced that non-executive Chairman Noel Tata will retire later this year upon reaching the

LG South Korea: LG Electronics is strengthening its HVAC business presence in Asia by opening new HVAC academies in Taiwan and Singapore to enhance training and technical support for local business-to-business (B2B) customers and engineers. The company recently inaugurated HVAC academies in Taichung, Taiwan, and Singapore to expand its air solutions business in rapidly urbanizing markets with rising demand for industrial infrastructure. The new facilities are designed to pro

handshake INDIA: Astral Ltd. has approved a composite scheme of arrangement to demerge its chemicals business into a new company, Astral Chemie Limited, while simultaneously merging its wholly owned subsidiary, Al-Aziz Plastics, with Astral Ltd. Subject to regulatory approvals, Astral Chemie will be listed on both the NSE and BSE, with the chemicals business being transferred as a going concern. The restructuring will establish two independent business platforms—plumbing und

US-Iran War Consequences The escalation of the Iran war in early 2026 has triggered widespread disruption across global commodities, with steel and aluminium prices emerging as key pressure points for Asian manufacturing. As conflict-related risks spread through Middle Eastern energy corridors and shipping routes, Asian producers of building products, particularly HVAC equipment and iron‑based sanitaryware, are facing sharply higher input and logistics costs. These increases

Indonesia Records First Trade Deficit in Six Years as Imports Surge and Inflation Accelerates Indonesia: Indonesia posted a USD 1.61 billion trade deficit in May, its first in six years and the widest since April 2019, as exports fell 5.73% year-on-year to USD 23.2 billion, driven by a 7% decline in mining exports, while imports rose 22.16% to USD 24.81 billion, supported by a 99.5% increase in refined oil purchases, a 13% rise in import volume and a 25.2% increase in raw mat

Air conditioners India: Indian air conditioner manufacturers are exploring export opportunities in Europe as record heatwaves increase demand for residential cooling solutions across the region. Companies are assessing market entry strategies as rising temperatures and changing climate conditions encourage greater adoption of air conditioning in countries where penetration has traditionally remained low. Despite the growing opportunity, Indian manufacturers face challenges in

Cera Sanitaryware India: Cera Sanitaryware reported that exports accounted for 1% of its total turnover during FY 2025-26, indicating that the company remains primarily focused on the domestic market. The company recorded a standalone turnover of approximately INR 2,050 crore (US$216 million approx.) during the financial year, with export sales representing a small share of overall revenue. The company continues to strengthen its manufacturing operations through investments i

Cera Sanitaryware India: Cera Sanitaryware expects revenue growth of 18 to 20% in FY27, supported by improving retail demand and stronger market activity. The company reported that demand conditions strengthened during the second half of FY26, and the positive trend continued into the beginning of FY27. Sanitaryware volumes are projected to grow by 7 to 8%, while faucetware volumes are expected to increase by 10 to 12%, reflecting stronger demand across its core product categ

India Introduces Five-Year Transition Scheme for QCO Compliance India: The India Introduces Five-Year Transition Scheme for QCO Compliance with a temporary framework that will remain in force for five years to help manufacturers transition to full compliance with Quality Control Orders (QCOs). Under the scheme, licences will initially be valid for two years and can be renewed thereafter. The transition facility covers 10 industry segments, including washing machines and water

Philips Enters Philippine Air Conditioning Market with New Product Range PHILLIPINE: Philips has officially entered the Philippine air conditioning market with the launch of its Air Series, Classic Series, Noble Series, Elite Series, and Window-Type Air Conditioner Series at Philconstruct Expo 2026 in Manila. The launch marks the beginning of Philips' exclusive nationwide distribution partnership with Mulson’s Trading Corporation. Designed for residential and commercial appli

Daikin Selects India as Global R&D Hub for Data Centre Cooling Solutions INDIA: Daikin Industries Ltd has announced plans to establish a new research and development subsidiary, Daikin Research and Development India Private Limited, in Haryana, strengthening India's role as a global innovation hub for HVAC technologies. Scheduled for completion by June 2028, the new R&D centre will focus on developing advanced heating, ventilation, and air-conditioning solutions for Asia, Oce