Carrier Corp will invest $50m in India during the next three years to build a global R&D centre in the country.
Aimed at developing industry-leading products, the firm hopes the investment will strengthen its No.1 position in India.

Carrier expects the new facility to open in 2009, making it the company's third global R&D center in Asia.

The world's largest provider of heating, air-conditioning and refrigeration solutions will also use the $50m facility to educate and train Carrier India's customers on its products.

India has one of the fastest growing economies and is a strategically important market for Carrier. Since 2004, the Indian air conditioning and refrigeration market has grown 25% a year and is expected to become one of the largest markets in the world by 2012.

Carrier's investment will bring world-class technologies and industry- leading air-conditioning and transport and stationary refrigeration products to the Indian market.

The firm says its new R&D center in India will further Carrier's efforts to develop energy-efficient products that use non-ozone depleting refrigerants.'


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