Mumbai/IBNS, Dec. 24 -- Sunil Mittal-led Bharti Enterprises and private equity firm Warburg Pincus have announced a strategic investment in the Indian arm of China's Haier Group, Haier Appliances India, following regulatory approval from the Chinese government to dilute Haier's stake, media reports said.

Under the deal, Bharti Enterprises and Warburg Pincus will together hold a 49% stake in Haier Appliances India, while Haier Group will retain another 49%. The remaining 2% will be allocated to employees.

The partners noted that India's consumer appliance market is witnessing robust growth, driven by rising disposable incomes, evolving lifestyles and increasing appliance penetration.

Haier India currently ranks among the top three consu...