Compiled by Meredith Beverstock 

Carrier Corp. will invest $50 million in India during the next three years to build a new global research and development (R&D) center. 

India has one of the fastest growing economies and is a strategically important market. Since 2004, the Indian air conditioning and refrigeration market has grown 25% annually and is expected to become one of the largest markets in the world by 2012. 

Carrier expects the new facility to open in 2009, making it the company’s third global R&D center in Asia. The center will include a state-of-the-art facility to educate and train Carrier India’s customers on its products. The company also will expand its workforce and expects to add 100 new positions, most of them in highly skilled areas such as engineering.  

For more information, visit www.carrier.com