TCS, Tata Elxsi to work on Panasonic products in India

Japanese consumer electronics firm to invest Rs 240 cr over five years

Japanese consumer electronics major Panasonic has engaged with information technology (IT) and engineering service providers- Tata Consultancy Services and Tata Elxsi- to develop smart solutions and products for its customers in India and other neighbouring countries.

The company has identified India as its third major research and development centre after Japan and the US. Company earned a revenue of around Rs 9,600 crore from the Indian market last year and the country accounts for 2 per cent of the overall turnover of Panasonic Corporations.

Panasonic will invest Rs 240 crore over a time period of five years for new developments in areas