With the commercialization of its third plant, Daikin Airconditioning India Pvt Ltd announced that it plans to expedite the supply of goods made in the nation for both local and foreign markets.

The company, a fully-owned subsidiary of Daikin Industries Ltd. of Japan, announced that it has invested Rs. 1,000 crore to establish its third integrated air conditioning and compressor manufacturing facility in Sri City, Andhra Pradesh.

The new plant spread across 75.5 acres has been set up as part of a PLI scheme and it helps the company leverage on India's manufacturing potential to produce for the world.

"We have about 100 production units globally and a customer base in over 170 countries but India holds a special significance. As we expand our manufacturing footprint in India, we re-emphasise the importance of India in Daikin's global vision," Daikin Industries President & CEO Masanori Togawa said in a statement.

"The country's dynamic market and skilled workforce align perfectly with our mission, and we are confident that the new facility will not only elevate the standard of HVAC solutions but also contribute significantly to the growth of the industry in India and the surrounding regions," he further said.