Panasonic, Tatas in talks for India-specific items
Wednesday, 25 May 2011, 04:09 IST
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New Delhi: Japanese consumer durables firm Panasonic today said it is looking at technical collaboration with several Indian firms, including the Tata Group, to develop India-specific products, underlining that the country is one of its significant markets. The company, which recently set up its first research and development centre (R&D) at Haryana, said it is also getting into new categories like water purifiers this year, apart from enhancing its existing range of products with a focus on penetrating Tier II and III cities. "We are looking for technological collaboration with Indian companies for bringing out India-specific products. One of them is the Tatas, with which we already have an internal tie-up. We want to take it further for developing products as well," Panasonic India President Daizo Ito told PTI. Without providing further details of the talks with the Tatas, he said the dialogue between the two firms is at a very early stage and is happening at the global level, although making India-specific products will be the priority of the deal. "Besides, we are also in talks with IT and PC companies and a lot of other firms for making software and developing contents for our smart TVs," he said. Panasonic India, which witnessed sales worth Rs 3,200 crore last fiscal, expects to achieve sales of around Rs 9,000 crore by 2012. In the last three years, the company said it has grown over three times. As part of the expansion plan, the company is looking to tap small towns and cities by bringing in products like water purifiers, particularly for the mass market.
Source: PTI
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