The Transformation of Panasonic India: Part 2

Panasonic India in the next 3-5 years

Our midterm plan in the next 3 to 5 years is to drive sustainability by building organization’s ability to generate its own resources and focus on delivering a balanced revenue structure. When you look at Panasonic globally, you will see that majority of Panasonic’s business comes from B2B (business to business) oriented products, and share of consumer-oriented products is lower. In India, it is the opposite – where majority comes from consumer-oriented products, and revenue share from B2B oriented products is on the lower side. In next 5 years, we want to make it more balanced with 50% of revenue coming from consumer products and 50% revenue coming from B2B. To put it simply, this means that major revenue growth should happen in energy, industry, systems solution related products, platforms and services. We will also continue to grow our consumer business but in order to drive sustainability, our intention is to rapidly grow our B2B oriented businesses in the country. And with the kind of infrastructure growth which is going to happen in India in the next 5 to 10 years, we have a big opportunity in the B2B segment.

A second objective is that we want to expand the software developmental capabilities in India. To do so, we will continue to focus on building capabilities in our India Innovation Centre in Bangalore. In last few years, a lot of solutions, including Miraie, have been developed, which are already helping Panasonic India expand its businesses currently. The third objective, which in some senses comes from my desire for Panasonic India to become a capability for the global Panasonic Corporation by providing our talents and services to subsidiaries outside of India. These services may include IT services, audit services, and even people services.

We have a lot to do and some way to go but I see many exciting opportunities ahead for Panasonic India and look forward to growing the business according to our founder’s guiding principles and our basic business philosophy.

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Article source: https://news.panasonic.com/global/stories/2022/96083.html