NEW DELHI: Japanese electronics company Panasonic Thursday said that it aims to garner Rs 1,000 crore of revenue in the course of the next three years and plans to ramp up its smart factory solutions business in India.
The company targets to achieve 1,000 crores in revenue from its smart factory business in the next three years, with solutions and digital manufacturing expected to contribute 15% to the total smart factory business revenue, it said in a statement.
Panasonic India has integrated its welding business and SMT (Surface Mount Technology) equipment business to consolidate its software and hardware capabilities and become an end-to-end integrated Smart Manufacturing Solutions company.
The smart factory solutions proposition will enable Panasonic to deliver broader, high value-added, smart solutions and services along with world-class hardware to the manufacturing industry, it added.
“Companies not only in India, but globally are increasingly focused on automating processes in their manufacturing plants and bringing in solutions, which are more digitally enabled. India is adopting new age technologies such as 5G, IoT,” Hiroyuki Aota, President & CEO, Global Panasonic Smart Factory Solutions said.
Panasonic also said that it plans to open a technical centre for its smart factory solutions which will act as a strategic base that validates smart factories with customers and be used as a training center where customers can learn the skills required to operate a digital factory.
“We are extremely focused on building solutions that cater to the real needs of our customers and will aggressively ramp up our portfolio of smart factory solutions,” Manish Sharma, President & CEO Panasonic India said.