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Panasonic Life Solutions: The PLI Scheme for the air-conditioner industry has been a game changer, increasing domestic value addition from 25% to 45% within a year and a half of its launch. The objective is to reach 75% value addition by FY28. Investments in components like heat exchangers and compressors have begun under the scheme. The government selected 42 companies for the PLI Scheme, with 26 investing in air-conditioner components and 16 investing in LED components.
The PLI Scheme for the air-conditioner industry has been a game changer, increasing domestic value addition from 25% to 45% within a year and a half of its launch. The objective is to reach 75% value addition by FY28. Investments in components like heat exchangers and compressors have begun under the scheme. The government selected 42 companies for the PLI Scheme, with 26 investing in air-conditioner components and 16 investing in LED components.
Panasonic Electric Works India (PEWIN), a subsidiary of Panasonic Life Solutions, aims to capture 50% of India s wiring devices market by 2030. The company plans to expand market share in India over the next five years, with a specific focus on the wiring device business. Additionally, Panasonic targets growth in core areas like switchgear and lighting. The company also plans to make additional investments in its Sri City unit in Andhra Pradesh to expand manufacturing capacity.
Panasonic is expecting "double-digit" growth in the Indian market this fiscal and is preparing to tap into the country s long-term potential by introducing high-tech products. The company is committed to the Indian market, citing its high long-term potential due to lower product penetration, providing room for growth.