For Panasonic Corporation, India is a key market. The country's importance can be gauged from the fact that from the current over 2 percent, Panasonic India is expected to more than double its contribution to the Japanese firm's topline by FY18. In FY16, Panasonic Corp registered a net profit of USD 1.6 billion on sales of USD 63 billion.
Panasonic India showed results step-by-step so that the Japanese side could have trust in the India operations. The growth has become more stable and the brand image of Panasonic is getting stronger. The important thing is that from the growth point of view, India is leading the entire Panasonic. Frankly, the China business is having a hard time. In India, the asset is rather small compared to China.
The company's aim is to identify the core opportunities in India. One of them is the smartphone and the second is energy storage followed by security and surveillance, especially considering the current societal changes. Out of 1 trillion yen, which the company has planned to invest in the country, it will prioritize where to invest in terms of business areas like automotive and energy. B2B service industry is another area the company is looking at. In India, energy is probably the biggest area. The 1 trillion yen is the money that the company has planned to invest up to 2018, but the big growth in India will come after that.