The company is therefore finalising production agreements with domestic contract manufacturers Dixon Technologies and Onida parent Mirc Electronics. In future, the company wants to set up its own plants after the brand gains market share.

Reliance has already launched Wyzr brand air coolers and plans to extend it’s range to televisions, washing machines, refrigerators, air conditioners, small appliances and LED bulbs.

Revenue in the Household Appliances Market is projected to reach US$4.09bn or more than 32,000 crores in 2024. Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.56%, resulting in a projected market volume of US$7.39bn or 60,000 crores by 2029.

This move of Reliance is expected to bring some benefits to Indians.

First, Wyzr products are expected to be cheaper as compared to brands such as LG, Samsung, Voltas and Daikin. Second, it would promote Make in India adding to the technological upgradations and new jobs.

Third type of benefits is for the investors. Watch for the shares of companies like Dixon technologies , MIRC electronics who would be manufacturing electronic goods for this Reliance brand.

Reliance is aggresively entering the consumer market with new products. In the last months Reliance has even launched a soft drink brand Campa with an aim to take over global brands like Pepsi and Coca Cola.