Panasonic to invest $300m in India over next 3 years February 23, 2009
Posted by dhirendra1972 in More Factories, More Investment, Slowdown of Recession.Tags: Eco-friendly air-conditioners, Electronic Major, Factories, Indian Market, Panasonic India
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Good morning friends. It’s a good news to know that Panasonic plans to invest in our country. This means recession might slowdown and many of the people will have their job. We should always hope for the better in our country.
Electronics major, Panasonic India, plans to invest $300 million and open more factories in India over the next three years, a top company.
“In India, we have five factories and plan to open more in a period of three-years. We will continue to invest in the Indian market as we want to take opportunity of such times (of recession) when other markets are shying away,” the company’s Director (Operations and Planning), Arjun Balakrishnan, said.
Panasonic plans to invest $300 million in the Indian market over the three years, he said.
Earlier, Panasonic unveiled its latest range of eco-friendly air-conditioners, priced between Rs 21,900-Rs 55,000. These were unveiled here by Miss World first runner-up, Parvathy Omanakuttan and would hit the markets by March.
“We have set aside $300 million for the Indian market. In the first year, we plan to expand in terms of our total outlets. In the second year, we plan to make a lot of investments while in the third, we would set up manufacturing capacities in India,” Balakrishnan said.
Currently, Panasonic products are sold at 3,000 outlets across the country. The company plans to double this to 6,000 by next year.
Photo courtesy: timesofindia
