Tagged a ‘sunrise’ sector, the HVAC&R industry is poised to grow eightfold in the next two decades, according to the India National Cooling Plan. Growing demand from the real-estate sector and the Government’s focus on domestic manufacturing to lower dependence on imports are behind this expansion.

Production concerns

Among the slew of measures introduced to spur domestic manufacturing, a production-linked incentive (PLI) scheme has shown early results, pushing the ratio of domestic value addition from 25 per cent to 45 per cent...

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