Whirlpool India Ltd (WIL), a group company of the US-based Whirlpool Corp, has planned an investment worth Rs 100 crore in the next two-three years in Indian market. The company informed that it will pump the proposed amount on product development and diversification into new segments such water purifier and modular kitchen products.

According to official sources, the investments would be made in upgrading technology, adding features to existing models and in making changes in the production line. The company intends to invest around Rs 30-35 crore per annum on product development.

Besides, expanding the product portfolio of its non-core segments such as water purifier, the company will also focus on in-built appliances.

Apart from latest development, the company has set aside an additional Rs 55 crore for marketing and brand promotion during the present financial year to push sales. The company expects brand promotion and new products to push its revenues by 10-12% in the current financial year. Presently, Whirlpool holds around 22% share in the refrigerators market and around 15% share in washing machine market.