Japan's Panasonic Corporation has announced a plan that it will expand its manufacturing footprint in India. Panasonic Life Solutions India Pvt., Ltd., the Thane, Maharashtra-based manufacturing and sales arm of Panasonic's Life Solutions Company, will build a new factory to produce wiring devices, electrical wire, and switchgear with an investment of 2,946 million rupees (approx. 4.6 billion yen).
The new factory in Sri City Industrial Park in the southern Indian state of Andhra Pradesh will be Panasonic's fourth electrical equipment material production base in the country and is scheduled to start production in autumn 2021.
In India, Panasonic views a great demand for electrical equipment materials such as switches, sockets, and switchgear along with the construction of office buildings, condominiums, and housing. To respond to the brisk demand, Panasonic, faced with the urgent need to increase production capacity, decided to build a new factory.
In India, Panasonic has production bases in Haridwar in the north area and in Daman and Kutch in the west area, but has no production base in the southern area, which, the company believes has a strong purchasing power and great growth potential.