With a team of 60, the centre of excellence will primarily focus on building technological solutions around internet of things and artificial intelligence.
Panasonic India plans to open its first India innovation centre in Bengaluru in collaboration with Tata Consultancy Services (TCS). While Panasonic will bring in its core technology and research means, TCS will contribute with its IT capabilities.
With a team of 60, the centre of excellence will primarily focus on building technological solutions around internet of things and artificial intelligence. It will majorly look into mobility, energy storage space, security and surveillance, connected community or smart homes and industrial and financial solution. To drive new ideas, the centre will also incubate startups which will be located in TCS’ Bengaluru premises.
Manish Sharma, President and CEO of Panasonic India, said, “Considering the developments around policies, technology environment and synergies by the Government, this is the right time for us. We will be investing Rs 240 crore over the next five years which is 10% of the business opportunities that will be created here.”
He added that India which is still not a major contributor for Panasonic’s business, is among the top three growing markets and is likely to contribute around 4% to the Japan-based company’s revenues by 2019.
“This centre will strengthen India’s market position and lead innovations for South Asia, Middle East and Africa. It will be central to developing new age technology driven products for both domestic and global markets,” said Daizo, Ito, managing executive officer and in charge of overseas business.
Panasaonic which employs around 13000 in India and South Asia, also has innovation centres in US and Japan.