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Warburg and Bharti Enterprises to acquire 49 per cent of Haier India
NOIDA: Warburg Pincus and Bharti Enterprises are buying their way into India’s booming white-goods market, snapping up a combined 49 per cent stake in Haier India and loosening China’s grip on one of the country’s fastest-growing appliance brands.
The stake will be acquired from China’s Haier Group, which will retain 49 per cent ownership, while employees will hold the remaining 2 per cent. The move hands the US private equity firm and the Indian conglomerate a strategic foothold in a sector dominated by South Korea’s Samsung and LG, and increasingly central to India’s consumer growth story.
The companies declined to disclose the deal value, but the Economic Times, citing industry executives, pegged Haier India’s valuation at around Rs 150 billion ($1.67 billion). Warburg and Bharti did not comment on the figure.
The transaction comes against a delicate geopolitical backdrop. While New Delhi and Beijing have shown tentative signs of thawing relations, Chinese investments in India remain under intense regulatory scrutiny, making local partnerships not just prudent but necessary.
Haier India manufactures air conditioners, refrigerators, televisions, washing machines and kitchen appliances from two plants in Pune and Greater Noida, serving a market that is heating up fast as incomes rise and urban demand surges.
For Warburg and Bharti, the bet is clear: fewer cables and calls, more compressors and coolers. And in a market where consumption is king, this is a power play with the plug firmly pulled out of geopolitics and pushed straight into growth.
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KPMG names Gary Wingrove as global chairman and CEO from October
Record Gmada bids signal rising demand as Rs 1,000 crore bet reshapes Tricity skyline
MUMBAI: KPMG has chosen continuity with a forward tilt. The firm has announced that Gary Wingrove will take over as global chairman and CEO of KPMG International, beginning a four year term from 1 October 2026. Currently serving as global chief operating officer, Wingrove steps into the top role after being nominated by the global board and elected by the global council.
A KPMG veteran with over 25 years at the firm, Wingrove has been closely involved in shaping its recent trajectory. As global COO, he has helped drive the firm’s Collective Strategy, focusing on operational integration, global investments and the steady expansion of the KPMG Delivery Network. He has also been at the forefront of KPMG’s digital push, including the rollout of AI enabled solutions across its global operations.
Before his global role, Wingrove served as CEO of KPMG Australia for nearly a decade, where he led a period of strong growth, almost doubling revenue, profitability and headcount while steering a cultural reset.
He succeeds Bill Thomas, who has led KPMG since 2017 and will work alongside Wingrove over the next six months to ensure a smooth transition.
Thomas leaves behind a firm that looks markedly different from when he took charge. Under his leadership, KPMG’s global revenues have risen by 55 per cent, and its workforce has expanded to more than 276,000 people. He also unified the network of member firms under the Collective Strategy, aligning priorities and strengthening governance.
His tenure saw heavy investment in technology and partnerships, with alliances spanning Microsoft, Google Cloud, SAP, Oracle and ServiceNow. These collaborations, along with platforms like KPMG Clara, have helped the firm scale its AI-led offerings and sharpen its competitive edge.
Beyond growth, Thomas also pushed improvements in audit quality and sustainability. Initiatives such as a multiyear global sustainability strategy and the Our Impact Plan have aimed to embed long term thinking into the firm’s operations and client services.
For Wingrove, the brief is clear but evolving. He has signalled a focus on agility, deep expertise and technology driven solutions as clients navigate an increasingly complex business landscape. He also emphasised KPMG’s identity as a people first organisation, supported by technology and unified through its global network.
The timing of the leadership change comes as KPMG continues to grow, reporting a 5.1 per cent rise in global revenue in FY25, with gains across tax and legal, audit and advisory services. Growth was recorded across all regions, despite a challenging macro environment.
As Wingrove prepares to take charge, the firm appears set on a familiar path with a sharper digital edge. Same playbook, perhaps, but with a renewed focus on speed, scale and smarter solutions.
