Monday, December 08, 2014: Indian economy is banking a lot on the recently launched campaign by PM Narendra Modi, Make in India, which is aimed at boosting investment and manufacturing opportunities in the country. Companies like Panasonic are eyeing Indian market as the market has huge potential now. The global electronics business is on a boom and Japan-based electronics company Panasonic is making it large, in comparison to Sony.
Panasonic has shifted their focus to solar panels, car navigation systems and batteries, reducing their dependence on consumer electronics like smartphones and plasma TVs. The company is already at a profitable end through this overhaul and as Panasonic president Kazuhiro Tsuga says India has played a crucial role in their success. Tsuga expressed his optimism in Modi’s initiative as investment future looks great for the country. While talking to TOI the leading body of the company explained his company’s plans for both Indian and global markets.
Tsuga led the company come out from a troubled time in a business-oriented way and he showed strong confidence in automotive, eco solutions and surveillance businesses which target to increase the company revenues to $84 billion by 2018-19. Tsuga visited India twice this year and he is very hopeful about the country’s role in his company’s business strategy and revenue generation. According to Tsuga, India has strong potential for Panasonic as this is one of the markets which his company focuses along with other regions like Middle-East, Africa, China and Asian.
Economic slowdown in the country doesn’t bother Tsuga much as India is one of the fastest growing emerging economies too. India has a large population, according to Tsuga, and it contributes to its market potential. Tsuga also shed light on his future plans in the country, keeping in line with Make in India campaign, and also mentioned manufacturing investments in the country, including their factory at Haryana. PM Modi’s campaign has encouraged his company a lot to make their manufacturing footprint stronger in the country, Tsuga says.
