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Panasonic to transform India operations into export hub on priority

Monday, 12 Feb 2024
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Panasonic Electric Works Company of Japan plans to enhance production capabilities through surplus facilities at Sri City factory in Andhra Pradesh. The investment in the country over the next five to 10 years will focus on capacity expansion, integrating new technologies and reinforcing the company’s market position. 

The company's strategic investment roadmap includes 100 billion yen (about Rs 7,000 crore) allocation for global electrical and equipment business growth by FY30, excluding Japan. Of this 30 billion yen (about Rs 2,100 crore) is earmarked for investment by FY24.

The firm has upgraded and expanded the plants in Daman, Haridwar and Kutch and established a new manufacturing hub in Sri City for production capabilities across India. The current production capacity of 120 million units at Sri City would be scaled to 300 million units by FY30. Overall, the wiring device business unit intends to bolster its manufacturing capabilities from 620 million pieces per year in FY23 to 1,000 million pieces per year in FY30.

For the three plants in Haridwar, Daman and Kutch, it will enhance productivity per unit area, through automation and improved production efficiency. While the Daman plant currently has a role in export production, it is considering shifting some of these export-focused activities to the Sri City plant, in its goal to establish India as an export hub. The focus is on diversifying the product range to meet the evolving market demands, in domestic and international markets.

Additionally, it will tailor its export product range to comply with the specific regulations of each target country’s market. The approach also aligns with government of India’s ‘Make in India’ in core components for various products and businesses such as solar cells, LED Lights, and electronic components.

Panasonic Electric Works is one of the four business domains of Panasonic Corporation. In India, Panasonic had acquired Anchor Electricals in 2007. 

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