Panasonic Makes Bold Move to Transform India into Export Powerhouse

Panasonic Electric Works Company of Japan is strategically expanding its production capabilities by utilizing surplus facilities at its Sri City factory in Andhra Pradesh. Over the next five to 10 years, the company aims to make significant investments in capacity expansion, the integration of new technologies, and strengthening its market presence.

As part of its strategic investment roadmap, Panasonic plans to allocate 100 billion yen (approximately Rs 7,000 crore) for global growth in the electrical and equipment business by fiscal year 2030, excluding Japan. By fiscal year 2024, it has earmarked 30 billion yen (about Rs 2,100 crore) for investment.

The company has recently upgraded and expanded its plants in Daman, Haridwar, and Kutch, while also establishing a new manufacturing hub in Sri City to enhance production capabilities across India. With the current production capacity of 120 million units at Sri City, Panasonic aims to scale this up to 300 million units by fiscal year 2030. Moreover, the wiring device business unit plans to increase its manufacturing capabilities from 620 million pieces per year in fiscal year 2023 to 1,000 million pieces per year by fiscal year 2030.

In optimizing productivity per unit area, Panasonic will implement automation and improve production efficiency at its Haridwar, Daman, and Kutch plants. It is considering transferring some export-focused activities from the Daman plant to the Sri City facility, aiming to position India as an export hub. The company also aims to diversify its product range to meet evolving market demands, both domestically and internationally, and will tailor its export product portfolio to comply with specific regulations of target countries.

This strategy aligns with the 'Make in India' initiative by the Indian government, particularly in core components such as solar cells, LED lights, and electronic components.

Panasonic Electric Works is a key business domain of Panasonic Corporation, which acquired Anchor Electricals in India in 2007.

News by Rahul Yelligetti