HP is planning to open its first factory in India and is set to roll out HP software and printers to Indian customers, its Chief Executive Officer Rajeev Shukla said today.
The company is expected to launch HP printer software in the next six months, and will launch a new set of printers in India as well as expand the HP-branded PC line.
HP will begin offering HP branded printers at its Indian factories in the first quarter of 2017.
HP is currently offering printers at four of its global headquarters in the US, Europe and Japan, with the rest expected to follow soon after.
HP India Chief Executive Rakesh Kumar told reporters that the company expects to sell around 2.5 million HP printers per year to Indian consumers by the end of the first fiscal year, and expects to grow that to 3.5-4 million per year in the second fiscal year.
HP expects to invest about US$2 billion in its printing business in India.
The first HP-owned factory will be the one in Bangalore.
The company will begin shipping HP printers to India in April 2019, and the plant will be capable of manufacturing HP printers for up to 250 people.
Shuklas said that the HP printer line will be fully integrated with the Indian market, and that the facility will produce HP-brand printers at a rate of up to 50 per cent.
“We are planning to expand this factory to a number of Indian manufacturing locations as well,” Shukles said.
“The facility will be one of the key manufacturing centres of our business, and we are confident that the facilities will enable us to bring HP products to the Indian consumer market in the near future.”
The company said it will open the first factory to manufacture printers in the country by the third quarter of 2020.
HP plans to open a second printing plant in India by the first half of 2021.HP India plans to produce HP printers in five states in the Indian states of Uttar Pradesh, Maharashtra, Gujarat, Tamil Nadu and Karnataka.
The state-owned company is currently producing HP printers at eight facilities in Maharashtra.
Shukla, however, stressed that the new printing plant will not be the only HP facility in India, and added that HP will open additional printing facilities in other Indian states as well.
“The printing plants we have already announced will also be a part of the new facility we are planning in India,” he said.