Panasonic reinforces importance of India business

Friday, 03 May 2013 21:39 administrator
Print

Company logo PanasonicPanasonic set to invest Rs. 15 billion towards expansion in India in the next three years.

 

Mumbai. Panasonic Corporation President Kazuhiro Tsuga recently revealed the strategic outlook for the company in Mumbai which encompassed company restructuring plans and the areas which the group will be focusing on going forward.

Identifying India and Brazil as the centerpiece of the future, Tsuga emphasised on driving growth by B2C businesses and profitability by focusing on B2B business specific to Energy, Security and devices to service the ever growing infrastructure of Indian market.

Talking about India Tsuga said, “I am highly inspired by India’s vibrant energy and high market potential. India is a high growth market for us globally; hence we are planning investment in this region on products, talent, marketing and manufacturing. There will be a sound focus on local manufacturing and expansion of production processes and the company will continue focusing on developing India-specific product innovations as well as Eco and Smart Solutions catering to domestic needs.”

Pursuing the localisation strategy in India, the company believes that business growth, modification of business, people, products and content should satisfy both the language and cultural differences of the targeted market. While working on providing localised products, there is a huge emphasis on local manufacturing going forward to meet up with the competitive Indian market. The philosophy has been to not simply import products from other countries, but should be specially customised for the Indian consumers keeping the local needs and conditions in mind.