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| Canon targets Rs 100cr revenue from Guj by '10 |
| Vinay Umarji / Mumbai/ Ahmedabad May 27, 2009, 00:34 IST |
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From being the eighth largest contributor in terms of sales, Gujarat is poised to become the third largest market for Canon India Private Limited by end of the financialy year 2009-10. Canon India expects to generate business worth Rs 100 crore from Gujarat by FY '10 from the current Rs 40 crore that forms six per cent of the photographic and digital imaging solutions company. Last year, the company pegged a turnover of Rs 20 crore from the state.
"We are very bullish about the Gujarat market since consumerism seems to be increasing in the state. From being the eighth largest market for us last year, by 2010 we want to make Gujarat the third largest. Nationally, we will be spending around Rs 80 crore on promotional activities and that will include Gujarat where we will be increasing our footprint," said Kensaku Konishi, president and chief executive officer of Canon India Private Limited.
Segments like consumers (camera and printers) and B2B (copiers and business machines) have been found performing better in the state, said Alok Bharadwaj, senior vice president of Canon India Private. "In Gujarat, consumer segment forms 50 per cent of our business in the state while B2B and government form 25 per cent," he added.
Nationally, while B2B forms 40 per cent of Canon India's total business, consumer segment contributes 25-30 per cent. To stimulate the B2B segment further, Canon India also invested around Rs 100 crore recently.
The company is especially focusing on the government segment in Gujarat. "Gujarat government is one of the first to implement networking systems in police stations and hospitals. Plus, penetration of IT here is very high. We are, therefore, working with Gujarat government by supplying products like faxes and copiers. Moreover, the state government has also begun buying cameras to check progress of their projects," said Bharadwaj.
In the last three years, Canon India has done a business of Rs 5 crore with the Gujarat government, he added.
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