Japan’s Panasonic aims to increase its revenue in India by 20% to ₹12,300 crore during the current financial year, a senior company official told The Hindu.
Manish Sharma, president and CEO, Panasonic India and South Asia, said that though India’s contribution to the company’s global revenue was just a little more than 2%, it was one of the fastest growing subsidiaries for the Japanese parent.
‘Driving innovation’
“Japan headquarters is looking at India not only as an opportunity to generate revenues but also as capability to contribute to their global operations and drive innovation,” Mr. Sharma said.
The firm, which plans to invest ₹240 crore in its India Innovation Centre till 2021, would initially hire 50 senior level people. “We also plan to make India the manufacturing hub for regions, including, South Asia and Middle East,” he added.