BW Businessworld
Panasonic on Mega-Localization Drive
Panasonic India aims to double the residential air-conditioning business over next three years riding on growing demand and by adopting new-age technology and betting big on producing more localized products
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The Indian arm of Japanese consumer electronics major, Panasonic India, is betting big on 'Make in India' by ensuring that 90 to 100 per cent of each of its products sold in India is locally built. The aim is to "double its residential air-conditioning business" segment in the next three years, Manish Sharma, President & CEO, Panasonic India & SA said recently on the occasion of the launch of a new range of ACs. Sharma said he expected to see a sales growth of 35 percent from the first half of this year itself. Overall, the AC industry is expected to see a growth of 15-20 percent this summer.