Panasonic Life Solutions India recently announced it would provide factory solutions to the domestic manufacturers by sharing its technology and manufacturing ecosystem with them.
The technology sharing drive would start at Panasonic’s Jhajjar (Haryana) facility beginning with refrigerators and air conditioner segment. Panasonic would also share its IoT (Internet of Things) Miraie platform with the partner brands and they will have rights to use ‘Engineered by Panasonic’ tag on their products.
Speaking on the occasion Panasonic Life Solutions India President & CEO Mr. Manish Sharma said “This is in alignment with the government’s Aatmanirbhar Bharat initiative and Make in India agenda”.
The main challenge for Indian companies in competing with foreign products especially Chinese products is access to technology. Therefore, it is sensible for leading brands with access to latest technology create a shared economy in the manufacturing space.
Panasonic would identify partners to share their platform technology with, keeping in mind their own positioning in market. Domestic manufacturers would benefit by reducing costs, optimising resources, enhance quality & durability, enabling capacity utilisation, and generating new job opportunities.
Panasonic said it has already selected two strategic partner brands (undisclosed) under this initiative, and expects to add 10 per cent extra revenue in a year in its consumer business from this manufacturing model.
About Panasonic India: Panasonic Life Solutions India Pvt. Ltd. is a wholly owned subsidiary of Panasonic Corporation, a Japanese multinational. It was earlier called Anchor Electricals Private Limited and from 1st April 2019 the legal identity changed to Panasonic Life Solutions. The corporate identity also changed from ‘Anchor by Panasonic’ to ‘Panasonic’. Its turnover for the FY-19 was INR 3,615 Crore.