The raids are linked to suspected “large-scale tax evasion,” the same report said.
The Chinese consumer durables company, which has a strong presence in India including refrigerators and washing machines, has set a target of Rs 6,000 crore in 2022 and Rs 10,000 crore in the next two years.
In April, Satish NS, President, Haier India, said, “We have one of the largest manufacturing hubs for all domestic supplies in the country as well as expanding our export base. Product innovation and customer-centricity are rooted in the principles of our growth trajectory and so we are focused on bringing best-in-class products researched, designed and manufactured to India. “
With plans to expand overall production by 25 percent by 2024, it’s unclear how this new one will affect the company’s plans.
The incident is still being unearthed and details of the operation are awaited.
