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Unedited press release follows:
Panasonic Establishes R&D Center in India
Osaka, Japan – Panasonic Corporation today announced that it has established Panasonic Research & Development Center India (PRDCI) in Gurgaon in the northern state of Haryana. As Panasonic’s first R&D base in India, PRDCI will contribute to the company’s business expansion in the growing market with efficient R&D tailored to local needs.
Panasonic has been making a company-wide effort to cultivate its business in India, having enhanced its product lineup and marketing structure as well as opened a B-to-B showroom there. The company further plans to build full-scale manufacturing facilities called Panasonic Techno Park in Jhajjar, Haryana, in the fiscal year ending March 2013.
PRDCI will help realize an integrated operation of product development, manufacturing and sales with its effective, locally-oriented R&D initiatives. In particular, serving as a technology platform, PRDCI will promote the technologies and their standardization that are deemed essential for making inroads into the Indian market through collaboration with local universities and industrial partners, mainly in the areas of energy management and AV products as well as new business development.
Panasonic has been striving to become the No.1 Green Innovation Company in the Electronics Industry by 2018, the 100th anniversary of its founding. To this end, Panasonic is undergoing a transformation to be a globally-oriented company, focusing on emerging markets such as India, under its Green Transformation 2012 (GT12) management plan covering three years through March 2013. The company continues to work toward fulfilling the plan’s goal of becoming a company filled with significant growth potential on its path to realize the 100th year vision.
Panasonic Corporation is a worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.69 trillion yen (US$105 billion) for the year ended March 31, 2011. The company’s shares are listed on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) stock exchanges.