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Panasonic, the Japanese consumer durables major, is aiming to grow its appliance exports revenue from India to Rs 100 crore in three years. The company’s plan is driven by strong demand from regions like SAARC, the US and Malaysia.
In the last fiscal, Panasonic had clocked export revenue of about Rs 64 crore. It already exports appliances like electric cookers, mixer grinders and wet grinders to global markets.
Hidenori Aso, Managing Director of Panasonic Appliances India, said, "India has been a key export hub for us and regions like SAARC, Hong Kong, Malaysia, US and Thailand are among the largest markets for our appliances exports business. We expect the export revenue to grow about 60 per cent in the next three years. It would be at about Rs 100 crore."
Presently, the small appliances business accounts for about 6% of Panasonic India's consumer business.
The company also looks to raise the plant capacity in the next five years and invest about Rs 30 crore for catering to the growing demand.
