Panasonic to make India manufacturing hub; to start exports
Japanese consumer electronics major Panasonic will start exports of home appliances from India as part of plans to make the country a manufacturing hub and the first shipment is likely by 2014-15.
New Delhi: Japanese consumer electronics major Panasonic will start exports of home appliances from India as part of plans to make the country a manufacturing hub and the first shipment is likely by 2014-15.
The company's production in India will get a boost with the commissioning of the USD 200 million facility at Jhajjar in Haryana by December this year.
"We will focus on India as a manufacturing base. We are seriously considering to start exports from India and at present studying various markets around the world that are suitable for products manufactured here," Panasonic India Vice President and Board Member Yutaka Suzuki told PTI.
Once the company operationalises and commissions the upcoming Jhajjar plant, it will consider expanding the reach of its products to other countries as well, he added.
"We are looking for similar markets like Africa and Middle East. We have not finalised the products that will be exported, but it is likely to start with air conditioners and washing machines," Suzuki said.
He declined to specify any timeframe for commencing exports from India.
However, a source close to the development said the company will take some time to meet the requirement of Indian market and shipment for other nations "will begin by the end of 2014-15 financial year".
Last week, Panasonic India Managing Director (Global Consumer Marketing Sector) Manish Sharma had said the company is looking to locally produce all home appliances by 2015 that are sold in India.
After the Jhajjar plant gets operationalised by December this year, it will start with production with air-conditioners and washing machines. Within one year, the company plans to roll out refrigerators and microwaves from there.
The production capacity of air conditioners will be 10 lakh units annually, while for washing machines it will be three lakh units.
Panasonic India currently manufactures LCD panels at its Noida facility and automatic rice cookers at its Chennai plant. The Noida plant has a capacity of six lakh units per annum and it will be expanded to 10 lakh units next year, Sharma had said.
Besides, the company is looking to produce plasma and large TV sets, which are imported from Thailand, in India by 2015, he had said.