“Even as we work through the current crisis, we are focused on the future and are investing towards it,” Daniel Mazon, vice chairman and managing director for Indian subcontinent at Philips India, told ET.
Many companies, including Samsung, Panasonic, Sony, Whirlpool of India and BSH Home appliances, in the country are getting enquiries from people confined in their homes about such products.
South Korean electronics giant Samsung has resumed limited manufacturing operations at its Noida plant and will scale up the production gradually, a company official said on Friday.
After 40 days of lockdown, certain business activities like opening of standalone stores and e-commerce delivery of non-essential items have been allowed in green and orange zones (locations with few or no COVID-19 cases).
Both LG and Samsung have opened bookings for various products on their websites for limited periods and are offering gifts of up to Rs 10,000 on pre-bookings made during the lockdown period. LG has opened pre-bookings till May 15 and Samsung by May 8.
Prasad, speaking after a virtual meeting with state IT ministers, also said India needed to capitalise on a huge electronics manufacturing opportunity that has been thrown open, as companies look to move of China in the wake of the Covid-19 virus outbreak.
The company plans to make investments of around Rs 210 crore on infrastructure development of the facility over the next four years. This new manufacturing facility will cater to the domestic and international business for Compaq televisions, for which it holds licence for multiple countries and regions.
Even after the curbs are lifted, social distancing norms and an overall fear of the pandemic may keep people away from the stores for some time.
Reddy, who is likely to join next month, is moving from Uber, where she was the regional HR director for APAC. She had joined Uber in 2017 as the chief people officer for India and South Asia region. She has about 20 years of experience in the field of HR, of which she worked with American Express for nearly 12 years. She has also worked with HR consulting firm Aon and Cognizant Technology.
India’s manufacturing industry does rely heavily on imported components, including semiconductors, smartphone screens, LED screens, sensors and so on.
Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.
For domestic mobile phone companies, the investment threshold is Rs. 200 crore over four years and sales criteria is Rs. 5000 crore in five years and for components it is Rs. 100 crore for 4 years and Rs. 600 crore of sales in 5 years.
LG Electronics India will donate products like water purifiers, air conditioners, refrigerators and TVs to the hospitals. Samsung India, on the other hand, will provide preventive kits to hospitals, which includes a surgeon gown, face mask, gloves, preventive eye wear, hood cap and shoe cover.
On the impact of the outbreak, the company said: "COVID-19 has affected the supply of some components to our manufacturing facilities and volume of business in 'Servicetec' segment. This is likely to impact our planned production and volume of business in excess of 10 per cent for the month of March."
"Two long-term policy decisions have been taken to make India hub of electronics manufacturing in new directions and medical electronics. Cabinet has approved production linked-incentive for electronics companies. We will give Rs 40,995 crore in the coming five years for production linked-incentive," Union Communications Minister Ravi Shankar Prasad said.
Vivek Sharma, MD at Panasonic Life Solutions India, said these stores will serve as experience centres for consumers and influencers, He said the stores will target customers as well as builders, contractors and architects. The company has opened the first such outlet in Hyderabad will be setting up these stores in a franchise owned and operated model.
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