Panasonic Electric Works India (PEWIN) plans to establish India a hub for exports to Africa, the Middle East, and South Asia, and plans to invest Rs 300 crore in expanding its Manufacturing plants in Sri City, Andhra Pradesh, near Chennai. The Manufacturing plant which built last year has a capacity of 120 million pieces of wiring device items (switches and sockets) per year which the company aims to increase to 300 million pieces annually. Rajesh Kumar Nandwani, Director Power Business Section, PEWIN, informed a group of visiting media on Friday the proposed investments are expected to be made in the next three to five years.
We have begun setting up infrastructure to expand the operations we have in the South Indian Region investing Rs 300 Crore. We will invest an extra Rs 300 crore to increase the plant's capacity so that it is capable of supporting global markets in Africa, the Middle East, and South Asia. PEWIN exports to countries such as Sri Lanka, Kenya, and Tanzania. PEWIN is a division of Panasonic Life Solutions India Pvt Ltd.
India contributes for 9% of Panasonic Electric Works' revenue worldwide. Currently, India accounts for 2% of total exports, with the goal of increasing to 10% by FY30. Panasonic Electric Works intends to make a global investment of Rs 6,250 crore over the next seven years. a statement from Kato Yoshiyuki, Managing Director of PEWIN, the company's goal for FY30 is to expand its business activities in India. Panasonic Electric Works lead the electrical devices market in India and Asia and ranked second globally. The company seeks to be the market leader in wiring by 2030. Anchor Electricals was taken over by Panasonic in 2007. It intends on producing 1,000 million pieces annually through the seven plants in Haridwar, Daman, and Sri City, including the expansion, compared to currently producing 620 million pieces per year.