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Carrier Invests in India

Carrier Corporation, manufacturer of air conditioning, heating, and refrigeration products, will invest US$50 million to build a new global research and development center in India. The company plans to expand its manufacturing operations to produce new products in India, and will add capacity for future growth. According to a company statement, approximately 100 new jobs will be created by the expansion, which is a result of the growing market in India for air conditioning and refrigeration products. Carrier says the market for air conditioning and refrigeration market in that nation has grown by 25 percent annually during the past four years, and India is expected to become one of the largest markets in the world for its products by 2012.

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