Panasonic Electric Works India (PEWIN) is looking to scale up its production capacity as the company positions India as an emerging export hub for its business. “Our strategic vision positions India as a key hub for exporting our products to global markets. Currently, exports constitute 2% of our total business. However, we have set ambitious targets to expand this segment significantly. By 2030, we aim to increase our export business to account for 10% of our total operations,” said Toshinobu Kawasaki, joint managing director, PEWIN.
The company is housed under Panasonic Life Solutions India which is also home to the Japanese electronics giant’s other India businesses such as Panasonic Appliances and Panasonic Energy India. It has four production sites across Sri City, Haridwar, Daman and Kutch.
“At our Sri City facility, which is a pivotal production center for our power products, we currently have an annual production capacity of 120 million units. Looking forward, our goal is to significantly scale up this capacity to 300 million units per year by FY2030, in response to the anticipated increase in demand,” said Kentaro Kobayashi, vice president of manufacturing at PEWIN.
PEWIN’s expansion of production capabilities will be most visible in its wiring devices business. “Looking ahead to the next five years, our ambition in India is to significantly strengthen our market presence, particularly in the wiring device business. By 2030, we are targeting a 50% market share in this segment. Additionally, we are focused on expanding our foothold in core businesses, including switchgear and lighting,” Kawasaki said.
In 2007, Panasonic had acquired Anchor Electricals in India, making itself a dominant player in the consumer electrical construction materials segment. The company recorded revenue of Rs 5,100 crore in FY 2023.
PEWIN announced that it is committed to expanding its presence in the Indian market. To achieve this, “We plan to enhance our production capabilities, particularly leveraging the surplus facilities at the Sri City, Andhra Pradesh, India Factory. Our strategic investment roadmap includes a significant allocation of 100 billion yen (~Rs 7,000 crore) for global electrical and equipment business growth by fiscal 2030, excluding Japan. Within this, 30 billion yen (~Rs 2,100 crore) is earmarked for investment by fiscal 2024,” said Ryo Matsumoto, general manager at Electric Works Company, Panasonic Corporation.
“While specific investment figures for each country are not disclosed, it's important to note that India remains our top priority in our global expansion strategy,” added Matsumoto.
As part of Panasonic’s long-term environmental vision, PEWIN is also working on energy-saving initiatives. Kobayashi said, “We have been proactively installing solar panels at our manufacturing plants. Notably, we recently completed the installation of solar panels at our Sri City facility, marking the culmination of this effort across all our plants in India. Furthermore, we have set and are diligently working towards a 3% annual energy saving target.”
Although the company has no immediate plans for opening new facilities in India, it is currently exploring the possibility of broadening its product range.
(The reporter was in Japan at the invitation of Panasonic Group)
