Panasonic Aims to Establish India as a Manufacturing Hub
India: Panasonic Corporation is advancing its strategic growth in India, aiming for a double-digit revenue increase in the current fiscal year, as confirmed by Manish Sharma, Chairman of Panasonic Life Solutions India and South Asia. India accounts for less than 2 percent of the company’s global revenue but continues to be a high-priority market. Over the past decade, Panasonic has established five factories and two innovation centers in the region. Consumer products such as air conditioners, refrigerators, and televisions contribute around 40% of its Indian revenue, with the remainder coming from wiring devices and business-to-business products. The company plans to double its export volume, which currently accounts for 8 to 9% of its revenue, within three years. Exports include air conditioners, LED TVs, and small appliances to South Asia. Observing trends such as premiumisation and rising consumer interest in advanced products, the company is preparing to introduce technology-driven solutions tailored to India's evolving market.
Source: KNN (Knowledge & News Network)