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By Moinak Mitra
The President and CEO of the $3.8-billion Hitachi Home and Life Solutions Inc, on its independent operations in India. Q. What are the new product markets that Hitachi intends entering in India over the next one year? A. We are already a large player in air conditioners (ACs), and want to tap the refrigerator market in India this year. Later, maybe we'll introduce some more white goods, but haven't decided yet. Q. Which segment of the refrigerator market are you keen on? A. We are not interested in the cheaper models, but only the high-end versions. We have in the past built factories in Thailand that can produce these refrigerators at much lower prices, and this adds to our advantage. Q. Any JVs on the horizon as you enter the Indian refrigerator market? A. JVs cost a lot of money, and moreover, our experience shows that it limits the freedom of our management. Q. Has the Indian market been a disappointment for you, given your performance in it so far? A. I think that the market is changing because 10 years ago, the Japanese manufacturers had a huge market in Japan and even in South-East Asia. So, at that time, even Hitachi invested heavily in South-East Asia. But now, the tide is changing, and almost all players are competing with one another in South-East Asia. It is India's time now, and we had not invested heavily in India earlier--which we are doing now. Q. Was it a mistake to strike a JV with the Lalbhai Group 10 years ago to manufacture Amtrex Hitachi ACs? Were there cultural differences? A. Well, we don't have any conflict. But they are an Indian company, and we are Japanese...the biggest reason (for the break-up) is that they have their own policy...they wanted to focus on their own textile business.
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