Home appliances major Electrolux on Tuesday said it will invest Rs 40 crore (Rs 400 million) by 2007 in a research and development centre here, besides sourcing IT services from Patni Computers as well as components from India.
"We are fully committed to the India market and will provide full strategic support to Indian subsidiary. Our commitments to India are long term and in line with our global operations... the company will emerge as the most innovative appliances maker in the country that understands its customers," AB Electrolux president and CEO Hans Straberg told a news conference.
Straberg, who is on his first visit to India as CEO will inaugurate the company's R&D centre in Shajanpur (Rajasthan).
Electrolux will source components worth $300 million from the domestic market. He said the company's Indian operations will be the SAARC headquarters excluding Sri Lanka.
