Panasonic Life Solutions has inaugurated a new manufacturing facility in Daman, located within the Union territory of Daman and Diu, as part of its strategic vision to dominate the lighting segment in India by the fiscal year 2030. With an investment of Rs 1.5 crore, the company aims to bolster its manufacturing capabilities and strengthen its position in the Indian market.

The state-of-the-art facility is geared towards producing a wide range of lighting products, with an initial focus on manufacturing lighting fixtures such as downlights. The facility's production capacity in its inaugural year is set at 1.5 lakh units, with plans for a significant expansion of up to 115% across the entire lighting industry by the end of fiscal year 2024.

This investment underscores Panasonic's commitment to establishing a formidable presence in the Indian lighting sector over the coming decade. Kuniyasu Shimaoka, Managing Director of Global Lighting Business at Panasonic Corporation, expressed confidence in India's manufacturing landscape, citing significant growth opportunities within the country. He emphasized that the Rs 1.5 crore investment is strategically aligned with Panasonic's broader objective of expanding its footprint in India, particularly in light of the 10th anniversary of the Make in India initiative.

The decision to set up manufacturing operations in Daman reflects Panasonic's dedication to accelerating local production while fostering collaborations with Indian suppliers. By leveraging the advantages of inland manufacturing, Panasonic aims to streamline its production processes and enhance efficiency while maintaining robust partnerships within the Indian business ecosystem.

In conclusion, Panasonic's investment in the new manufacturing facility in Daman signifies a significant milestone in its journey towards achieving leadership in the Indian lighting market. With a focus on innovation, quality, and localization, the company is poised to capitalize on the burgeoning demand for lighting solutions in India and reinforce its position as a key player in the industry.