New Delhi, Oct 8 (IANS) To develop a shared manufacturing ecosystem that sup ports revenue augmentation and the ‘Make in India’ programme, diversified technology major Panasonic India has unveiled its “Shared Factory Solution”.
Accordingly, under the initiative, the technology major will offer its “Japanese expertise and local manufacturing capability” to enable few strategic partner brands to manufacture in India and reduce dependency on imports, drive up local consumption and exports.
However, the company clarified that the project is not comparable to contract manufacturing.
It elaborated that the initiative was to drive the ‘Make in India’ agenda and share capabilities and technology with select partners with the the right synergies to help them design and manufacture their products.
The company has already opened its smart factory at ‘Technopark’ in Jhajjar, Haryana to collaborate and manufacture for select local brands.
Besides, enhancing manufacturing capabilities, the initiative is expected to bring efficiencies by reducing costs, optimising resources, enhancing quality, enabling capacity utilisation, and generating new job opportunities.
Furthermore, the initiative will allow other electronic brands to come on board Panasonic’s IoT platform, Miraie.
“The electronic sector is one of the fastest-growing sectors that is expected to reach $400 billion by 2025. The industry presents a potential imp ort opportunity of $150 billion that can be leveraged locally,” Manish Sharma, President & CEO, Panasonic India, and South Asia, was quoted as saying in a statement.
“We strongly believe that fostering local manufacturing can lead to an industrial revival and shared manufacturing will be a catalyst in achieving the common goal of making India a ‘driving force’ in the development of high-quality production ecosystems. With this vision, we have unlocked shared manufacturing demand by opening up our state-of-the-art facility to local brands.”
As per the company, the manufacturing capacity will be opened in a phased manner.
In the initial phase, the technology company will be building capacity for brands across ‘Refrigerator and Air Conditioner’ manufacturing along with smart and connected capabilities through its Miraie platform.
Other products line across appliances will follow.
“Although the pandemic has affected us adversely, we can still aim for green shoots with a few tweaks in our core Make-in-India strategy to optimise industry focus with three steps – Unlocking manufacturing demand; open ing up to exports to further scale up demand and fusing supply chains in to backward integration,” Sharma said.