Panasonic to hire 3,500 in India, says gunning for $10 bn annual business
While inaugurating the 76-acre plant here, Panasonic India said it will "provide employment to 1,500 people in the first phase and over 2,000 in the second by 2018." Currently, the firm has a workforce of about 12,650 people in India.
The construction of the plant started in April 2011 and the capacity is to be expanded gradually. An investment of USD 200 million from 2010 to 2015 has been earmarked for this unit, the company said in a release.
The facility that was inaugurated today by the Chief Minister of Haryana, Bhupinder Singh Hooda, has an initial capacity to produce 10 lakh ACs, 4 lakh washing machines and 25,000 welding and cutting machines per annum.
Talking about revenue outlook, the company said it is targetting Rs 25,000 crore turnover by 2015. "Today's opening of this factory will fuel our first priority goal in India of doubling our revenue in 2012-13," Panasonic India President Daizo Ito said.
In 2012-13, the company is expecting a sales revenue of Rs 10,000 crore from its Indian operations.
On the market, the company said: "Panasonic shall focus on making India a manufacturing hub and will export products
from India to other markets like Middle East and African region". From the new unit, the company plans to export 5 per cent products by 2013 that will be increased to 20 per cent by 2015.