The Hindu Business Line : Canon to invest Rs 100 crore in India

NEW DELHI: Digital imaging major Canon on Thursday said it will invest Rs 100 crore in India to expand operations, primarily business-to-business activities as well as marketing and sales infrastructure.

The company said it aims a 25 per cent growth rate in sales to clock a turnover of Rs 1,000 crore by next year, with its business imaging division expected to account for 10 per cent of total sales in the next two-three years.

“We have decided to invest Rs 100 crore to expand our capital base in India. It will be utilised largely on our business solution division to expand our operations, to enhance our rental business and also on infrastructure to support our B2B for the next two years,” Canon India Senior Vice-President, Mr Alok Bharadwaj said here.

The company, which today launched eight models of business imaging products, said its business solution division, at present, contributes about 4-5 per cent in the overall turnover and aims to increase it significantly.

Among the new products introduced include its flagship model image1135 priced at Rs 44 lakh.

Canon India President and CEO, Mr Kensaku Konishi said the company expects a 25 per cent growth rate in its turnover to touch Rs 1,000 crore next year.

“Our business imaging solution division contributes about 4-5 per cent. We plan to increase it to 10 per cent in the next two-three years,” he added. – PTI

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