The world's leading home appliances maker, Whirlpool, has announced major changes in its business strategies for the current financial year, stating investment plans of Rs 300 crore in India over next three years. It will specially focus on product development, marketing, sales and service infrastructure, according to the reports of the Economic Times.

Whirlpool of India vice-president (corporate affairs and strategy), Shantanu Dasgupta said: "For the past one year, our focus was on cost-control and maximising margins.

We generated Rs 100-crore cash surplus in the first quarter of this year, improved our profit and cleared our debt. Now is the time to change our strategy to drive both revenue and profit."

The company revised its revenue growth from 15% to more than 20% for the current financial year, given the improvement in customer sentiments and the market conditions. It expects 40% growth rate in the coming festival season, garnering around Rs 450 crore in the current financial year.

Mr. Gupta said: "We are aspiring for market leadership status in the Indian market in these product segments. Currently, we are either in the number two or three positions and enjoy leadership in direct cool refrigerator."