Neemrana Signal — Neemrana is becoming India's cooling valley — 24 Sept

Air conditioners, chillers and data centre cooling have become some of the fastest growing businesses in India. Many of the parts that keep them running are made in Neemrana.

KRN Heat Exchanger and Refrigeration is based in the RIICO Industrial Area in Neemrana. It began supplying Daikin in 2018. Its customer list has since grown to include Schneider Electric, Blue Star, Kirloskar Chillers, Carrier, Voltas and Knorr Bremse. The company is still growing. In May 2025 it commissioned a new plant in Neemrana that raised its installed capacity from 1 million to 6 million units a year. It formally inaugurated the facility in March 2026.

It then raised more money to keep growing. In June 2026 KRN completed a ₹350 crore Qualified Institutional Placement, with the funds set aside for capacity expansion and working capital at Neemrana. The Government of Rajasthan has sanctioned an incentive of ₹182.95 crore for the Neemrana facility. The results show the plan is working. Net profit for FY26 rose 45 percent to about ₹76 crore. In a single quarter the new plant brought in more than 40 new customers, and data centre cooling now accounts for about 15 percent of revenue.

KRN is part of a larger cluster. Daikin has invested ₹1,065 crore in its Neemrana plant, which makes split air conditioners, VRV systems and chillers. The company is now planning ₹2,800 crore of new investment in India, with a strong focus on research into chillers and high capacity air conditioning.

That combination is what makes Neemrana special. A global brand sits next to an Indian supplier that grew up alongside it. The supplier makes heat exchangers, oil coolers and evaporators. The brand turns them into finished cooling systems. The result is a local supply chain that is fast and cost efficient and keeps getting more capable.

This opens up clear opportunities for investors. The corridor needs more makers of copper and aluminium components, compressor and motor parts, sheet metal, controls, sensors, testing labs, packaging and logistics. Data centre operators need cooling partners close at hand. Engineers and technicians trained here can move from one leading employer to the next. Every expansion creates demand for homes, hotels, training and services.

Investors can see this for themselves. KRN will host a physical investor meeting in Neemrana on 30 September. Visitors who come will find companies already expanding in the corridor.

India's appetite for cooling is growing, and more and more of its cooling technology is being built in Neemrana.

Commercial opportunity

Neemrana HVAC and Cooling Supply Chain Map. It would track expansions, supplier needs and investment openings across the SNB corridor.

The industrial corridor between Bhiwadi and Neemrana was known for years as a place where Japan built factories in India. It now also attracts a German packaging leader, a Belgian brewer and a growing list of other global manufacturers.

Siegwerk, the German family company that makes printing inks and coatings for packaging, has invested ₹630 crore in Rajasthan. It now plans to expand its Bhiwadi facility further and make it the company's largest manufacturing hub in the world. Siegwerk marks 20 years in India in 2026. It plans more investment in manufacturing, technology, innovation and research.

Bhiwadi already matters to the company. The 19 acre campus produces 35,000 metric tonnes of ink a year and employs about 600 people. Siegwerk is also building an India Global Capability Centre on the site, which will develop products and expertise for its customers in other countries. Rajasthan will therefore be exporting knowledge as well as ink.

The company has grown its local presence in other ways too. In June 2026 it completed the acquisition of Hi Tech Inks, which added another production facility in Bhiwadi. The combined business now has more than 20 percent of India's flexible packaging inks market and employs about 1,700 people nationwide.

Siegwerk's expansion comes as capital from several countries flows into the corridor. Neemrana's Japanese Zone remains its anchor, led by Daikin and a large community of Japanese manufacturers. AB InBev's Belgian backed brewery in Neemrana began operations in July 2026. Siegwerk's expansion in Bhiwadi now adds German manufacturing to the corridor.

That mix is good news for suppliers. Consumer goods companies need packaging. Packaging needs inks, films, labels, cartons and printing. Brewers, appliance makers and food producers all need well designed packaging that arrives on time. With a global ink leader, a brewer and major appliance makers located close together, the corridor now has the makings of a complete packaging and consumer goods supply chain.

The opportunities range widely. There is room for flexible packaging converters, label and carton printers, film and laminate suppliers, warehousing, specialty chemicals, testing labs and recycling businesses that can turn packaging waste into new material. Growth in research and capability centres will also increase demand for chemists, engineers, designers and data specialists.

Investors choose locations where other successful companies have already settled. Between Bhiwadi and Neemrana, Japan, Belgium and Germany have all chosen the same corridor. Companies looking for a place to make and pack their products for Indian and global markets will find a strong base here.

Commercial opportunity

Bhiwadi Neemrana Global Investor Tracker. It would map international investors, their expansions and the supplier openings they create across the corridor.

Every factory in Neemrana depends on skilled people. That includes the technician who calibrates a machine, the fitter who assembles a heat exchanger and the supervisor who keeps a production line on schedule. The corridor is now investing in training those people close to home.

Rajasthan is the first state in India to sign a Shareholders' Agreement under PM-SETU, the national scheme to modernise Industrial Training Institutes through partnerships with industry. The Government of India, the Government of Rajasthan and H.G. Infra Engineering Limited signed the tripartite agreement on 7 September. It came straight after the National Steering Committee approved Rajasthan's ₹241 crore Strategic Investment Plan for the Bhiwadi ITI cluster.

The cluster uses a hub and spoke model. Government ITI Bhiwadi is the hub, and the Government ITIs at Alwar, Neemrana, Tijara and Kishangarh Bas are the spokes. The Bhiwadi cluster has now moved from planning into formal implementation, and Rajasthan has set an early benchmark for the rest of the country.

The ₹241 crore plan will pay for modern ITI infrastructure, upgraded trades and new long term and short term courses. It will also strengthen how the institutes are run. The approach is designed around industry. Under the PPP model, what students learn is meant to follow what employers actually need.

That fits Neemrana well. The town sits beside India's largest cluster of Japanese manufacturers. Daikin, KRN Heat Exchanger and many other employers are expanding in cooling, automotive components and precision engineering. A modern ITI next to them gives young people from Neemrana and nearby villages a direct route from classroom to factory floor.

It also gives industry a real role. Companies can help decide which trades are taught, supply trainers and equipment, host apprentices and recruit graduates who already know their machines and standards. Japanese manufacturers bring a strong culture of quality and continuous improvement, which can shape a new generation of Rajasthani technicians.

Investors gain something as well. A company deciding where to build its next plant looks for people as much as for land and power. A corridor with a modern, industry-linked training system can fill new jobs faster and keep skilled workers longer. Nationally, PM-SETU has now sanctioned ₹2,171 crore across nine ITI clusters, and Rajasthan is the first to begin.

Neemrana already has strong factories. PM-SETU will now give it a steady supply of trained people to work in them.

Commercial opportunity

Neemrana Skills and Hiring Monitor. It would track new courses, industry partnerships, apprenticeships and hiring demand across the SNB corridor.

Companies that want to expand into the Delhi Rajasthan industrial belt have a short window this week. Applications and Earnest Money Deposit for RIICO's latest e-auction of undeveloped and semi-developed industrial land close on 25 September at 6 PM. (https://industries.rajasthan.gov.in/riico/)

This round covers land in several parts of Rajasthan. The closest option for the Neemrana corridor is at Rabarka in Bhiwadi. Other plots are at Daulatpura in Jaipur, Jairampura and the Industrial and Logistics Hub at Dausa Bandikui, Kasar in Kota, Jodbeer in Bikaner, Tanaja Ka Bansa in Rajsamand, and Mal Ki Toos and Pipad in Udaipur. The land is offered for a range of uses. Online bidding runs from 28 to 30 September.

How to take part

Start on the undeveloped land page of the RIICO website. It has the list of available plots, the allotment policy and a clarification note on lease renewal. Choose a plot, deposit the EMD and submit the online application before the deadline. Companies that apply in time can then bid online during the three day window.

What a winning bidder gets

The land comes with a long term lease. The first term is 33 years, and it can be renewed twice for 33 years each. RIICO recently made renewal costs clearer. Each renewal is charged at 10 percent of the allotment rate prevailing in that industrial area at the time, provided the lessee has met the required conditions. That gives investors a clear picture of land costs for close to a century.

After the auction

Winning bidders move on to allotment formalities, planning and construction. RIICO has recently made project timelines more practical in areas where basic infrastructure is still being built. Production deadlines can now be linked to the date an industrial area is declared developed. That means companies building in newer areas can plan construction in step with roads, power and water arriving.

Why this matters for Neemrana

Neemrana is not in this round. For companies focused on the SNB corridor, the Bhiwadi plot and the Rajasthan policy framework show how quickly the state is putting new industrial land on the market. Bhiwadi and Neemrana are part of the same growing manufacturing belt. Investors who line up their documents, EMD and site studies now will be ready when Neemrana and EPIP plots come up in future rounds.

RIICO is making land easier to get, and the SNB corridor gives companies a strong place to build.

India is building one of the world's largest markets for cooling, and much of that demand runs through Rajasthan. Homes, offices, hospitals, factories and data centres all need systems that keep people and machines cool while using less power. Neemrana already builds many of those systems. The next step is to design them there too.

The corridor is already moving that way. Daikin plans to invest about Rs.1,000 crore in India in its first global research and development centre outside Japan. The centre will focus on software and product development for air conditioning systems and chillers. Its wider India plan of Rs.2,800 crore gives priority to research on high capacity cooling. Nearby, KRN Heat Exchanger has grown its Neemrana capacity from 1 million to 6 million units a year, and data centre cooling now makes up about 15 percent of its revenue.

The Emerald Valley vision offers a natural home for the research that could come next. Its presentation describes a Sustainable Energy Research Institute, a Green Tech University, living laboratories and Tech Integration Labs. At the integration labs, young companies would test their technologies alongside larger firms. It also includes solar power, grid-scale storage and water reclamation. Together these form the setting a serious cooling research cluster needs.

Imagine how that could work in practice.

A heat exchanger design lab could let engineers from local suppliers test new coil geometries, lighter alloys and low refrigerant designs, and then send the results straight to production lines a few kilometres away.

A climate-smart building test centre could measure how cool roofs, shaded facades, vertical gardens and efficient HVAC perform through a real Rajasthan summer. That would be a demanding test, because Alwar temperatures regularly approach 39 degrees Celsius even in late September.

A data centre cooling lab could develop liquid cooling, heat recovery and energy management systems for India's fast growing digital infrastructure.

An energy testing facility powered by on-site solar and storage could certify how efficient new products are before they reach market.

Each of these could connect directly to the factories next door. Students could train on real equipment. Startups could find their first customers down the road. Global companies could run product trials in the climate their customers actually live in.

That is the opportunity Emerald Valley represents. Neemrana has already shown that it can build cooling systems at scale. A green technology city nearby could help it invent the next generation of them.

On 30 September a group of investors will come to Neemrana to meet KRN Heat Exchanger at the company's home base. A few years ago investor meetings of this kind usually happened in Mumbai or Gurugram. Holding one in Neemrana shows that the corridor now attracts financiers and fund managers as well as engineers and suppliers.

That raises a practical question every growing industrial town eventually faces. When important visitors arrive, where do they stay?

Picture three visitors.

A fund manager flies into Delhi for a morning plant tour and afternoon meetings in Neemrana. She wants a quiet, business-ready room nearby rather than a long evening drive back to Gurugram.

An engineer from Osaka arrives for a three month installation project at a Japanese factory. He needs a furnished home with a proper kitchen, reliable internet and a short commute.

A Korean quality team of six comes for two weeks of supplier audits. They want to stay together, eat familiar food at the end of the day and have a driver who knows the industrial estates.

Each visitor needs something different. Together they show how Neemrana's stay economy is growing.

The first step is to use what already exists. Travel platforms currently list about 24 hotels in Neemrana, with rooms starting from around Rs,5000 a night. These include heritage stays near Neemrana Fort and business hotels along the NH 48 corridor. For short visits, investor tours and one night meetings, this network already offers good options.

For longer stays, Briston is building something new. It is developing Indo Japanese inspired wellness residences in Neemrana. The residences come in 1LDK Presidential, 1LDK Premier and 3LDK Premier layouts, based on the living, dining and kitchen format familiar to Japanese families. They offer round the clock security, continuous water supply, power backup and modern fire safety. For the engineer from Osaka or a relocating manager, that means a home that feels familiar from the first day. Briston is bringing as part of its project 400 residences meant for Japanese with Japanese eco-system. And further a mission to build 10000 residences managed by five star hotel chains and seven star managed residences companies.

A hotel room and a Japanese style residence meet different needs, and a strong corridor should offer both.

Neemrana Signal sees a clear opportunity to bring them together. A single Executive Stay Guide could match every visitor to the right option. Short business trips would go to partner hotels at negotiated corporate rates. Project teams would get serviced stays for weeks at a time. Japanese and Korean professionals on longer assignments would be offered Briston residences leased through their companies.

When investors can stay comfortably, they tend to stay longer, and they often come back.