The company also announced it is exploring the possibility of setting up a factory in India for manufacturing cameras in India in its near future.
CBC had been selling its products in the Indian market for the last 26 years. Three years ago the company established its representative office in India. With the demand for security surveillance products picking up in the country, the company has established a direct presence.
This would help the company introduce all its product ranges in the Indian market, including the laser camera which enables one to see objects in a completely dark place from a distance of 2-3 km.
"We have obtained the import licence from May 1, this year. This will help us introduce our product ranges in India. By having a direct presence in the country, we can also provide prompt technical support to our customers here," said Norihiro Tanimura, Director Image and Info & Technical Division, CBC Corporation.
CBC which recorded a turnover of $2.3 billion, has seven different divisions including CCTV, industrial optics, chemical/pharmaceutical products, medical devices, precision instruments and plastics textiles.
Security surveillance (CCTV) is a key division for the company contributing about 25 per cent of its annual turnover. CBC has direct presence in 24 countries.
Tanimura said the company was also exploring the possibility of establishing a factory in Bangalore for manufacturing cameras. "To start with, we are considering the manufacture of cameras for the domestic as well as the overseas market. We may look at going in for a partnership with an Indian manufacturer. We are presently carrying out feasibility study," he said.
CBC manufactures about 500,000 cameras per annum globally, and the company aims to manufacture 50,000 cameras in India to begin with.
The Indian market for security solutions which include video surveillance and access control, is estimated to be over Rs 1,000 crore. Within this, the video surveillance market is estimated to be about Rs 330 crore, growing at the rate of 20 per cent year-on-year.
Presently, India contributes about $20 million to CBC's global revenue, across all the divisions. The company expects to acquire a 20 per cent share in the security surveillance market over three years time.
