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Sanyo to launch industrial equipment in India

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CIOL Bureau
New Update

MUMBAI: Japan's Sanyo Electric Co. Ltd. plans to step up operations in India by introducing commercial and industrial equipment, a top company official said on Tuesday.

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"Our first penetration in India was with television in 1982," Toshimasa Iue, president of Sanyo, told a news conference. "We see potential in the future for environmental appliances."

Sanyo plans to introduce batteries, industrial air conditioners, biomedical equipment, mobile phones and digital cameras in India through its two Indian subsidiaries.

Sanyo formed a joint venture with Indian home appliance maker BPL Ltd. last year called Sanyo BPL Pvt. Ltd. It has had a long association with the BPL group, through which it started selling colour television sets nearly 25 years ago.

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It also has a wholly owned subsidiary, Sanyo India Pvt. Ltd.

"We have big plans for India and after building a firm foundation using our initial investment, we hope to make it a pillar of our growth in the future," Iue said.

Sanyo hoped to replicate in India the success its industrial equipment enjoys in Europe and China, he said.

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Sanyo India has set a target of $100 million in sales for next year for consumer products and $500 million by 2008/09, Sanyo BPL Chief Financial Officer Toshiki Yabuuchi said.

Sanyo has already invested $70 million in Sanyo BPL and an additional $3 million in Sanyo India to expand its presence in India's consumer goods market.

"The tie-up provides Sanyo with a ready base for its products and a strong after-sales service which Indian consumers care a lot about," said Rajiv Rastogi, head of brand management at Sanyo BPL. "Sanyo India acts as an importing agency."

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