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China's Midea Group to invest $123.5 million in India

Appliance factory in Pune should create 500 jobs in 5 years

Supporting the official Make in India campaign, Andy Gu of China’s Midea Group announced a major factory development in Pune at a press conference in New Delhi on Monday.

MUMBAI -- Midea Group, a manufacturer of household appliances from China, is to invest 8 billion rupees ($123.5 million) setting up a factory in Pune that should be operational by the end of 2018, and is expected to employ 500 people over five years.

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