Havells India Ltd recently announced a joint venture with Shanghai Yaming Lighting Co. Ltd, a leading lighting company listed on Shanghai Stock Exchange in China.

The 50:50 JV would leverage upon technology and manufacturing strengths of its partners, providing energy and cost efficient products for Global Sylvania and local China markets, Havells said in a statement. Named Jiangsu Havells Sylvania Lighting Co. Ltd, the joint venture would entail an investment of $50 million and target an annual turnover of $100 million in next three years. It would increasingly focus on launching energy efficient and green lighting solutions including but not limited to LEDs, CMI, HID and lighting fixtures.

Havells Group through its global Sylvania operations has significant interest in lighting industry. The JV would facilitate constant innovation and quicker product release in international markets including a co-owned, reliable and stable supply source in China. The JV reiterates Havells philosophy to establish local presence to cater growing consumer demand for quality products in China.