Japanese electronics goods major Panasonic Corporation will invest Rs 1,500 crore in India over the next three years and restructure its operations here as it aims to take on bigger rivals in a market dominated by the Korean chaebols Samsung and LG.
The company plans to increase the share of its enterprise business in India, introduce new products and strike strategic partnerships with Indian business groups like Mukesh Ambani’s Reliance Industries and the Tatas in order to treble its India turnover by 2015, Panasonic’s president Kazuhiro Tsuga told a select media group.
This comes in the backdrop of the company unveiling a three-year business plan to pare losses in its semiconductors, mobile phones and television businesses globally and push new growth areas.
India though has been performing well for the Japanese firm having doubled its sales.
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