For Panasonic Life Solutions, India will be the global production hub of exports for West Asia and and South Asia, contributing 10 per cent exports by FY30. 

The company has two per cent exports from India to Kenya, Nigeria, Tanzania, Saudi Arabia, Oman, and SARC countries such as Sri Lanka, Myanmar, Bhutan, 

A ₹300-crore investment will be made by the company for the expansion of the Sri City plant that was opened in April 2022. The company’s electric works company will also invest ₹6,250 crore globally for expansion by FY30. It has a 24 per cent global sales contribution (excluding Japan), with India contributing to 8 per cent of ₹62,500 crore of FY22 sales.

The global sales excluding Japan are expected to be 40 per cent by FY30. Apart from India, the company will focus on Turkey and Vietnam, which will cater to Europe, North Africa and Commonwealth of Independent States (CIS) countries.

“Electric devices as the core business, distribution and product solutions will become the top electric infrastructure solution company and contribute more to the growth of India,” said Kato Yoshiyuki, Managing Director of Panasonic Life Solutions India. 

Market share

The company is looking to expand its market share in the South Indian market by up to 30 per cent market in wiring devices from the 25 per cent at present. 

The Sri City plant has reduced the product lead time for the company to 6 days. The company caters to Bengaluru, Hyderabad, Vizag, Kerala and Chennai. A total of ₹600-crore investment, between 2021 and 2025, is being done at the Sri City plant. 

To expand its market share, the company said it is open to organic and inorganic growth.

“India remains the focus country for Panasonic electric works, and we will be investing significantly for organic and inorganic growth. We will explore to increase our market share in our respective business,” said Rajesh Nandwani, Director, of Power Business, Panasonic Life Solutions India. 

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