Leading air-conditioning firm Blue Star is in talks with some renowned professional institutes, such as IIT-Mumbai and IISc-Bengaluru for a tie-up to come out with breakthrough products.
"We are in talks with the Indian Institute of Science, Bengaluru, IIT-Mumbai, the proposed IIT-Vijayawada and School of Architecture, for tie-up to come out with breakthrough products," company's Executive Director and President (AC&R Products Business) B Thiagarajan told reporters here.
Asked when the tie-up will materialise, Thiagarajan said though the talks are at preliminary stages, it could happen by June or July.
He said, "The talks with IIT-Mumbai is slowly taking place. Some correspondence has taken place with IISc. A couple of meetings has taken place with the School of Architecture located at Delhi."
Thiagarajan said the company is working on developing solar-powered air-conditioners (ACs) and indigenising controlsand other parts used in inverter ACs as part of its collaboration with IIT-Madras.
The collaboration is meant for research requirements, curriculum development, faculty exchange and student internships, among others, he said.
Thiagarajan said the company is also increasing its investments in new product development and other R & D works to stay competitive in the market.
He said they are expecting excise duty exemption for five star and inverter airconditioners so that people can afford more higher energy-efficient products which ultimately will bring down prices.
"We are expecting the Finance Minister to exempt excise duty for 5-star and inverter airconditioners. This will make such products affordable, which will boost the growth of the market. If the market grows, the price will come down," he said.
