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Panasonic inks pact with TCS, Tata Elxsi to develop smart solutions, products: Report

19 May 2017 Evaluate

Panasonic has reportedly entered into agreement with Tata Consultancy Services (TCS) and Tata Elxsi- to develop smart solutions and products for its customers in India and other neighbouring countries.

The company has identified India as its third major research and development centre after Japan and the US. The company earned a top-line of around Rs 9,600 crore from the Indian market last year and the country accounts for 2 per cent of the overall turnover of Panasonic Corporations.

Panasonic will invest Rs 240 crore over a time period of five years for new developments in areas such as connected home appliances, mobility, energy, storage solution and security. This investment will be around 10 per cent of its revenue expectations from new businesses in India, South Asia, Middle East and Africa.

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Company Name CMP
TCS 2397.30
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