Japanese electronics goods maker Panasonic(NYSE) has proudly announced that its Indian operations will become its second largest in Asia Pacific after China, in case the company clocks annual revenue of $10 billion (over Rs 50,000 crore) by 2018.
According to an estimate, Panasonic’s Indian subsidiary is hoping to record a turnover of Rs 10,000 cr in this fiscal. With this trendous value, Panasonic is aiming to grab the Numero Uno position in the region by 2030 from its current ranking of below 10th position.
 |
For this, Panasonic is planning to take numerous initiatives. Reliable insiders informed our team that Panasonic is mulling to set up more production facilities in India, intending to make the country a manufacturing hub. Recently, it inaugurated its sixth plant in the country with $200 million investment (nearly Rs 900 crore).
To achieve its target, the Japanese electronic products giant is also planning to hire over 3,500 people by 2018.
"Indian market is very important for us. Demand here is growing. As per our target, India will be the second largest market in Asia Pacific after China” said, Panasonic Asia Pacific Managing Director Yorihisa Shiokawa.
 |
Without sharing details, Shiokawa further added, “the company globally is focusing in four segments - residential, non residential, personal and movers. India is doing well in all the segments, so we will have more manufacturing facilities here in future.”
