Panasonic is making its Indian operations a regional hub with markets like Middle East, Africa and neighboring countries set to become a part of the new entity with effect from next month.
The Osaka-headquartered is looking to leverage on India's emergence as a manufacturing hub and its strategic location by making it a regional entity, to add to its five regions globally. "From next month India will become a regional headquarter, covering areas like SAARC, Africa and Middle East and will report directly to global headquarters in Japan," said Panasonic India Manging Director Manish Sharma.
Currently, Panasonic India comes under the company's Singapore-based establishment. Other global regions of the Japan-based firm are based out of Japan, North America, Asia, Europe and latin America. Asked about the reasons for making India a separate region, Sharma said: "Firstly, all these countries fall in the vicinity of India. Secondly, India has become a manufacturing hub and is strategically located and that could help in taking products to these markets."