Daikin India to invest Rs 500 crore to set up R&D centre in Rajasthan

New Delhi: Air conditioning systems manufacturer Daikin India on Wednesday said it will invest Rs 500 crore in the next three year on setting up its third R&D centre in the country at Neemrama in Rajasthan.

The centre will be spread over 24,000 square metres and employ more than 250 engineers dedicated to research and development of India specific products, the company said in a statement.

Besides, the facility will also house 22 new testing facilities and labs, which will help increase the company's manufacturing competitiveness for products in the export markets, it added.

"The R&D centre will look at building products that not just suit Indian consumers but will also focus on creating technologies which are sustainable and environment friendly for the global consumers," Daikin India Chairman & Managing Director K J Jawa said.

The new R&D centre will start operations from 2023 onwards, the company said.

Daikin India Vice President, R&D, Srinivas Reddy said, "India is a critical market for us and the rationale behind setting up this R&D centre is to invest in technologies that suit Indian conditions and build products as per the demands of consumers." Diakin India's two other R&D centres are located at Hyderabad and Neemrana. The third one will be located next to the company's Neemrana manufacturing facility.