Panasonic lines up Rs 850 cr for India

"We will invest $200 million (over Rs 850 crore) in the next three years in the country to position our brand firmly in the market. We will also modernise our existing facilities," Panasonic Sales and Services India Chairman Aso Hidenori said.

The company is also eyeing to triple its revenue from India operations in the next three years from the current $350 million (about Rs 1,500 crore) with plans to set up 200 brand stores.

"We are targeting 20-25 per cent growth in this fiscal from our current revenue of $350 million. We expect it to triple in the next three years," Hidenori said.

The company currently has one assembly facility for CRT and LCD monitors in Noida with three lakh units capacity per annum, small appliances unit in Chennai and two factories in Vadodara and Chennai for manufacturing dry batteries.

"We are planning to increase the production capacities of CRT and LCD TVs in our Noida facility," he said.

Panasonic India currently imports washing machines, airconditioners and plasma TVs from its Thailand and Japan units.

"Depending upon the growth in demand in the country, we may opt for setting up assembly units here for plasma TVs, but we will have to wait for some time for that," Hidenori said.