Established in 1963, Panasonic Life Solutions India Private Limited is a wholly-owned subsidiary of Panasonic Corporation. With a constantly expanding product range and growing market share, it is one of the leading manufacturers of electrical construction materials (ECM) with presence across India. The Company is aiming to strengthen its domestic market penetration in tier-II & sub-tier-II markets and expanding its presence in the international markets. Mr. Hemant Gadhave, Vice President – Business, Panasonic Life Solutions India Private Ltd., sheds light on the recent innovations, plans regarding market expansion, and key market trends, in an exclusive conversation with Wire & Cable India magazine.
New innovations and recent developments
Panasonic Life Solutions India is a market leader in electrical construction materials (ECM). Our goal is to offer products that prioritize safety and quality. This year, our mission is to provide better quality products and services despite the difficult market situation.
In the construction wire & cable industry, we are constantly developing new solutions for both residential and commercial structures. The advanced flame retardant, extra-flexible flame retardant, FireGuard FRLSH, higher size building wires, HFFR wires, and two core unsheathed cables are among the wires & cables we offer. On the industrial front, there are flat and round versions of the multi-core series of cables. We provide telephone & switchboard cables, UTP 4Pair 6 LAN cables, co-axial cables, and CCTV cables as communication cables. The most recent product we’ve introduced in the house wire category is Copapro-FR, which has excellent flexibility, insulation resistance, and flame resistance. In addition to this, we are also planning to launch higher sizes in building wires and multi-core categories.
We adhere to the idea of continuous improvements and we’re proud of our technical team’s ongoing efforts to explore internal modifications. Through internal modifications, we’ve enhanced the quality and productivity of our production process. We’re always striving to provide customers with more value for their money.
At Panasonic Life Solutions India, we emphasize technology and innovation. We are increasing our spending on R&D with a strong focus on the latest innovation trends including the Industrial Internet of Things (IIoT), wherein interconnected devices are used in manufacturing and industrial settings. We are exploring opportunities to produce new products with existing machinery and also with the addition of new machines. We’re looking for export opportunities which will help us to increase our international presence.
Market expansion plans for 2023
Currently, our products are offered on the domestic market in India as a whole. Our goal at Panasonic Life Solutions India is to quicken our market penetration and growth in tier-II and sub-tier-II markets. To grow our network in these markets and establish franchise-operated models, we intend to make significant investments in the retail and distribution sectors. Customers will be able to interact with our brand at these unique brand outlets, which will also serve as experience centres for them. Customers can be sure that the products they purchase will be of the highest calibre and most cutting-edge technology. With the rise of digitization, new digital communication channels are being developed, to maintain our link with stakeholders and the community at large. We are also focusing on our exports of electrical wires and communication wires. Furthermore, we are navigating and expanding into newer markets.
Defining trends driving growth & demand in the year ahead
There are many prospects driving the growth of the Indian retail market for cables and wires, with the rise in housing demand being the most significant. The demand for residential spaces is continually increasing because of the government’s “Housing for All” plan, which is supported by a massive influx of investments and advantageous policies. A continual need for housing wires is also being created by the government’s urban and rural electrification programmes, such as “Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY)” and “24×7 Power for All”. Other factors fueling the demand for housing include rapid urbanisation, an increase in nuclear households, and the simplicity of obtaining financing. These provide us with fantastic potential to grow our B2C sales in the house wires area.
Under the National Infrastructure Pipeline (NIP), capital expenditures are to be made in the key infrastructure sectors over FY 2020-25. There is a strong thrust on oil & gas projects, renewable power projects, tunnelling, and ventilation projects in highways, railways, and metro rail projects. Other factors favouring demand for wires & cables are the 100% electrification program for railways and the development of smart cities.