Panasonic to develop India operations into export hub

Panasonic Electric Works prioritizes Hyderabad, India as a market and manufacturing site for global expansion, with plans for capacity expansion and new technologies.

India as a market and manufacturing site remains a top priority in the global expansion strategy for Panasonic Electric Works Company of Japan.

The company plans to enhance production capabilities by leveraging surplus facilities at Sri City factory in Andhra Pradesh, said Ryo Matsumoto, General Manager, Living Energy Business Division, Electric Works Company, Panasonic Corporation.

“Our strategic investment roadmap includes 100 billion yen (about ₹7,000 crore) allocation for global electrical and equipment business growth by fiscal 2030, excluding Japan. Of this 30 billion yen (about ₹2,100 crore) is earmarked for investment by fiscal 2024,” he replied on email following a company conducted media tour of some facilities in Japan recently.

While he said specific investments for countries are not disclosed, he said India remains a top priority in the company’s global expansion strategy. The investment in the country over the next 5-10 years will focus on capacity expansion, integrating new technologies and reinforcing the company’s market position.

Remarkable growth

Executive VP, Panasonic Corporation and President of Electric Works Company Kiyoshi Otaki speaking at a media briefing said, “among our priorities, India holds a special place as the world’s most populous country with remarkable economic growth. We aspire to expand operations... in future, we will actively pursue exports and investments from India to Africa.”

Panasonic Electric Works is one of the four business domains of Panasonic Corporation and its electrical construction materials business reported net sales was 1 trillion yen (est. ₹62,500 crore) in FY-2022.