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Panasonic India to invest over Rs 150 crore in FY2018

Last Updated 20 May 2017, 18:59 IST

Consumer electronics major Panasonic India is set to invest in excess of Rs 150 crore on expansion of capacities across various segments and categories in India during the current financial year.

The company, which has already announced a manufacturing plant for refrigerators in Jhajjar, Haryana, will be investing Rs 115 crore in that. The plant will commence operations from January 2018 and will have initial production capacity of three lakh units per annum, extendable to five lakh units.

Panasonic, currently produces 65% of its refrigerators sold in India within the country and is expecting to take the number to 80% after the inauguration of the plant.

Among other product segments, company produces 80% of the mobiles, 75% of the televisions, almost 80% and air conditioners, that are sold in India, within the country itself. Balance quantity is imported from various countries including Japan.


 The company will be investing Rs 48 crore on its upcoming India Innovation Centre (IIC), in association with Tata Consultancy Services, in Bengaluru this year.

The centre, over the next five years, will see a cumulative investment of Rs 240 crore. “Of the total investment, we will be investing 15%-20% in the initial year,” Manish Sharma, President and CEO, Panasonic India and South Asia told DH.

He said, in addition to these investments, Panasonic will also spend an estimated Rs 350 crore on advertising and promotion of its consumer business in India in FY18.
“I wouldn’t say that those are the investments to create capablities, but yes those are also huge investments for us,” Sharma added.

Expected jump
The Indian entity, which has seen more than 30% compound annual growth rate (CAGR) in the last three years, is planning to increase its share in the global revenues of Panasonic Corporation, its parent entity, to 4% by 2019, from the current level of 2%, Sharma added.

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(Published 20 May 2017, 18:59 IST)

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