Sensing good opportunities in the Indian lighting segment, Japanese electronics giant, Toshiba is scaling up its size with plans to set up a manufacturing base and is investing in the R&D centres of its subsidiary GreenStar, says a PTI report
The company is aiming for a business of US $ 40 million (Rs 243 crore) here in next five years in LED segment with a 40 per cent year-on-year growth basis. Presently, Toshiba Lighting & Technology Corporation has revenue base of around US$ 4 million (over Rs. 24 crore) in India.
“Our primary manufacturing facilities are in China and Japan. We are also trying to see India as next manufacturing base, not only for the local market but also producing for global needs,” Toshiba Lighting & Technology Corporation President and CEO Yoichi Ibi told PTI.
However, he also added that it would depend on the sales volume in the coming years.
Greenstar Director India Technology & Operation Centre Sarosij Sengupta said Toshiba would have a three-pronged focus in India.
“It would develop the lighting market in India, utilise the design and resource capabilities here and create a global design centre where we could develop product for global markets as Europe, USA, Japan,” he said.
Toshiba has already started investing in developing labs for R&D equipments and lab of GreenStar India to suffice the global requirements of design.
On being asked whether Toshiba would use India’s strategic geographical proximity with Middle East and African nation to make it as export hub for those nations, Ibi said: ‘ In the future if we enter in those markets, India is one candidate for the desired headquarter for Middle East and Africa.’
GreenStar ,was acquired by the Japanese conglomerate in 2012 and made a part of Toshiba Group Company. It manufactures LED street lights, high bay/low bay LED lights and LED based billboards.
The company would be using GreenStar brand in India, however, in other geographies it would use Toshiba or would have co-branding.
“We would develop our business in India through the brand name of GreenStar,” Ibi added.
GreenStar had started in India as a design centre and has a manufacturing site with local supply chain.
Toshiba has come with new global models of street light, which is co-developed by GreenStar R&D and Toshiba’s R&D in Japan.
“The plans are that product would be marketed in Europe and Australia. Entire product would be manufactured and assembled here and shipped out,” Sengupta said.