According to a senior business executive, Panasonic Electric Works India (PEWIN), a subsidiary of Panasonic Life Solutions, intends to take 50% of the Indian electrical device market by 2030.

Toshinobu Kawasaki, Joint Managing Director, Panasonic Electric Works India, told PTI that the company's goal in India over the next five years will be to greatly increase its market share.

"Specifically, by 2030, we aim to capture a 50 per cent market share in the wiring device business," he stated. "We also intend to achieve significant expansion in our main business segments, which include lighting and switchgear. This ambitious plan is a reflection of our dedication to fortifying our market position and delivering quality and innovation in these critical segments," Kawasaki stated.

In order to control power and save energy, electrical components provide outlets, lighting and appliances with connection points. They also include plugs, switches, time switches, lighting control devices and plugs.

When asked if it intended to increase capital expenditures at its Sri City plant in Andhra Pradesh in order to increase manufacturing capacity, Vice President of Manufacturing Kentaro Kobayashi stated, "We plan to make additional investments to expand our automated production lines at our Sri City facility. In the medium to long term, expanding our manufacturing capacity in India is a critical objective."

"This investment is a strategic move to enhance our manufacturing efficiency and output, further solidifying our commitment to growth and technological advancement in the Indian market," Kobayashi stated.

Yasuhiro Masui, Director of Finance, responded, "Panasonic recognises the need for more streamlined and efficient tax litigation processes in India," in response to a question on if the company wants further change in Indian tax or regulatory policy.

"Business operations would be substantially benefited by a system to track the progress of litigation cases and a method to expedite them. Moreover, we recommend that the effects on enterprises be taken into account for any new tax legislation."

"This entails establishing appropriate grace periods and providing enough time for planning between the announcement of tax policies and their implementation. Such steps will support tax revenue stability in addition to helping firms comprehend and comply more fully," according to Masui.

Tokyo Sky Tree, a broadcasting and telecommunications tower rising 634 metres above the Japanese capital, is one of the main tourist destinations. Panasonic is the source of the LED lighting that is installed on the structure.

When asked if such a project was planned in India, Masato Miyamaru, Director of Lighting Business, responded, "We have installed our power and lighting products at flagship projects like the new Indian Parliament building, Rudraksh International Convention Centre, Bengaluru Metro, Nagpur Metro and Bengaluru International Airport."

Although there aren't any concrete instances of radio tower illumination in India, Panasonic has worked on large-scale facility lighting projects. One noteworthy project for which we provided lighting solutions is the International Cooperation and Convention Centre in Varanasi.

"While this project may not be similar to the Tokyo Sky Tree, it underscores our commitment to providing advanced lighting solutions for significant infrastructure and facilities in India," Miyamaru stated.

"We want everyone to live healthily and vibrantly in these spaces," stated Kiyoshi Otaki, President of Panasonic Electric Works Company and Executive Vice President of Panasonic Corporation. "Our commitment to constantly updating venues and guaranteeing optimum happiness for all of our customers is rooted in our ability to adapt to changes in societal surroundings and lifestyles."

According to him, the company wants to support safe and sustainable living both in Japan and around the world.

"India is a special place among our priorities. We hope to build our business and make a positive impact on Indian society as the most populated nation in the world with impressive economic growth," Otaki stated.

"In future, we will pursue exports and investments from India to Africa," he stated.

"India is moving quickly in the direction of a more wealthy future. With intelligent energy solutions that help reduce carbon emissions, Panasonic is fostering this dynamic spirit," a senior representative of Panasonic Electric Works India stated.