In mid-August, electronics major Voltas announced a joint venture (JV) with the relatively pubescent Atomberg Technologies. The intention was simple: to localise Voltas’s supply chain for AC compressors, a quintessential component of an AC that makes up a fifth of its cost. 

For long, the company has been synonymous with its ACs, and has been the market leader in the segment since 2012. But what should have been a buoyant moment turned rather flat. 

Significantly, Voltas’s revenue has fallen in three of the last five quarters, even as........

© The Ken