Being a marginal player in the Indian electronic market the Japanese Giant, Panasonic plans to start refrigerator business in India to tap into the huge market with an investment of Rs. 2.5 billion.
Apart from making refrigerators in India the company aims to strengthen its R&D functions and also to expand its appliances business in India by accelerating the localizing, production and sales activities to develop products that match the local needs.
The company intends to start a manufacturing plant for refrigerators in Jhajjar region of Haryana, as well as Mumbai in the west and Chennai to the south. The surveys for land and cost have already started. They are planning to start the construction and operations by Mid-2018.
Panasonic will also establish the India R&D Center in Appliances Company India consisting of two technical divisions to accelerate the product development and to realize locally fit products. It will strengthen the Design Division targeting the complete local product development process in India.
The company will establish the design division in Bangalore in April 2017 in partnership with Tata Elxsi. Through this division it will develop technologies such as artificial intelligence and robotics applicable to appliance products not only for India but also for Japan and global markets.
By Baishakhi Dutta