Panasonic Global President Reinforces Importance of India Business

3.Pursuing the localization strategy in India, the company believes that business growth, modification of business, people, products and content should satisfy both the language and cultural differences of the targeted market. While working on providing localized products, there is a huge emphasis on local manufacturing going forward to meet up with the competitive Indian market. The philosophy has been to not simply import products from other countries, but should be specially customized for the Indian consumers keeping the local needs and conditions in mind and this has been the purpose of building the Technopark factory in Jhajjar to create products specific to the Indian market. It is this pillar of Localization that the company has done consistently well in the consumer electronics and home appliances segments.

With the government proactive to develop a framework to bring major transformation in the ecosystem to promote local manufacturing, Panasonic is keen to work together with other Indian companies with the aim to fuel the growth process. This coupled with the intent of bringing in Japanese expertise of product development and research is one of the reasons that during his three day visit, Mr. Tsuga also met business heads of Indian conglomerates like The Tata Group and Reliance Industries Limited.

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