Home appliances and consumer electronics company Panasonic India plans to manufacture air purifiers in India by next year.
Panasonic India and South Asia President and Chief Executive Officer Manish Sharma notified that they are still importing air purifiers, but at the same time seriously considering (manufacturing) since the market is growing quite rapidly. He further mentioned that Panasonic is considering to look at manufacturing them also in India, possibly from next year.
The company imports its range of air purifiers from its Hong Kong-based unit.
The Japanese firm has 15 manufacturing units in India and recently announced investment of Rs 1.15 billion in a factory in Haryana to manufacture refrigerators.
Last fiscal, the company sold 5,000 units of air purifiers and this fiscal, it is aiming to sell around 20,000 units.
The company’s total investment in India in the last few years has been over Rs 3 billion.
It manufactures TVs and air conditioners with a capacity of almost 10 lakh units each washing machines with 4 lakh units in the country.
The consumer durable division is expected to generate a revenue of Rs 4,800 crore this fiscal, with metros and tier-I cities contributing around 65 per cent to 70 per cent of the company’s sales.
Panasonic India is eyeing an overall revenue of Rs 108 billion this fiscal at a growth rate of 25 per cent.
By Baishakhi Dutta
