Electrical equipment manufacturer, Havells India on Tuesday said the company is in talks with

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a few Chinese companies for a possible joint venture either to manufacture its products or to export them from India or both.

The company also said it plans to double its revenue in the switchgear segment to Rs 1,800 crore in the next three years.

Havells has three small offices with 100 people in China at present for promoting its lighting products. The search for a joint venture is on and some agencies are working on it. Havells’ has been selling lighting products in China since the last few months.

“There is a good opportunity in China as it is a huge market and could grow very fast. We are looking for a joint venture partner there or for setting up our own facility in China. Our officials in China are working on it and over the next 12 months, we would take a final call on it,” president, Havells’ India, Sunil Sikka told reporters here.

The company has recently set up an industrial switchgear plant at Sahibabad with an investment of Rs 50 crore.

Apart from Sahibabad, where the company produces high-end industrial switch gear, it also has a facility in Faridabad manufacturing low-end industrial switch gear.

Post expansion, Sikka said, the company expects to achieve the said revenue. According to him, the total size of switchgear market in India is between Rs 7,000 – 8,000 crore at present.

The switch gear segment comprises domestic switch gear and industrial switch gear verticals. Havells’ total global revenue in the last fiscal stood at around Rs 5,600 crore with its Indian operations contributing nearly Rs 3,000 crore, he said adding that Indian operations generate Rs 900 crore each from the switchgear vertical and lighting, and Rs 1,200 crore from its wires and cables business.

The company has six manufacturing facilities abroad in Germany, Belgium, United Kingdom, France, Costa Rica and Columbia. It has 12 manufacturing plants in India and now it is planning to set up another one at Neemrana, in Rajasthan, for lighting fixtures.

The company is also exploring possibilities to enter the small electric appliances segment.

(The correspondent’s visit to Sahibabad was organised by Havells)