Panasonic Electric Works India (PEWIN) will invest another Rs 300 crore to increase capacity at its unit in Sri City, Andhra Pradesh, says Kato Yoshiyuki, Managing Director, Panasonic Life Solutions India.
Panasonic Electric Works India (PEWIN) is part of Japan- based Panasonic Corporation. The company has two per cent exports from India to Kenya, Nigeria, Tanzania, Saudi Arabia, Oman, and SARC countries such as Sri Lanka, Myanmar & Bhutan.
“The Sri City facility is fully operational and will primarily focus on manufacturing wiring devices products. The company is looking to use the facility for exports and will mainly target the Middle East and African markets, We have invested Rs 300 crore as part of the first phase of the project, and will be investing another Rs 300 crore by 2026,”elaborated Rajesh Nandwani, Director, Power Business.
The company has manufacturing units at Daman and Haridwar and the Sri City factory inaugurated last year, has a capacity to produce 120 million pieces of wiring device products every year, which the company wants to increase to 300 million pieces annually. The company produces various products such as switches and switchboards.
Yoshiyuki Kato said the company's revenues stood at Rs 5,100 crore in FY23, and is aiming to increase it three times by 2030, which is possible by the opportunities present in India. “To boost exports, the company will increase its distribution strength. The major t revenues for PEWIN are currently contributed by the power unit, lighting and solar verticals,” he added.
Raja Mukherjee, BU Head & Sr Vice President Lighting, said. “Panasonic Electric Works tops in India & Asia and is second in the global market in the wiring devices business. We acquired Anchor Electricals in 2007 and now the company aims to be the leader in the lighting business in India. We are looking at manufacturing 1,000 million pieces per year from the current 620 million pieces annually. The company will look to become more solutions-centric rather than product-centric.”
“Government business contributes a third of the top line for the lighting unit at present and we see solar lighting along highways as a big opportunity, given the mandate to have a fifth of the country's roads to be lit up using solar power,” said Amit Barve, BU Head Solar. According to him in spite of high import tariffs, the growth in solar business is steady and growing in India
Shahab Naqvi, VP & Head B2B & B2G stated, “The company will be exploring inorganic growth opportunities in India to increase its market share. We are looking at opportunities in Indian government’s Smart City Mission as well as focusing at growing our B2B business across India.”
