Panasonic Corporation is looking for strategic tie-ups in India. Following discussions with Indian conglomerates such as the Tata Group and Reliance Industries, the electronics major is planning to up its investments in the region.
Panasonic is to invest Rs 1,500 crore over the next three years on advertising and marketing, with a emphasis on products and manufacturing, said President Kazuhiro Tsuga. “We will focus on local manufacturing and expansion of production processes and will continue to focus on developing India-specific innovations,” said Tsuga.
Despite challenges in the consumer durables segment, the company said it has made inroads into many Indian households. Though currently Panasonic’s Indian units manufacture air conditioners, washing machines, and television sets, the company is keen to bring in product research and development at its facilities.
The company is aiming to double the contribution of the B2B (business to business) segment to Panasonic’s overall revenue by 2015, and will be introducing new product ranges in the energy solutions segment, with products for storing and saving energy, security and surveillance systems.