Twenty-two Japanese companies including giants like Suzuki, Honda, Sony, Matsushita, Mitsubishi among others committed investments worth U.S. $10 billion into India. The investments are expected to happen in the Delhi-Mumbai Industrial corridor.
For example, electronics and electricals major Matsushita told the Business Standard that it aims for a turnover of $1billion (Rs 4,100 crore) by the end of 2010 from its Indian operations.
MEIC, through its fully owned subsidiary company, Panasonic, is aiming to launch newer products into the domestic market. The company currently sells flat screen and LCD television sets in the Indian markets. Arjun Balakrishnan, director-operations, Panasonic Sales and Services India, said, "The focus for Matsushita until now had been growth in China but now the company is aiming to make India (market) as big China (market). As most of our products are imports, we may set up a manufacturing base in India for our products."