Canon aims $1 bn india sales by 2015 | business | Hindustan Times
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Canon aims $1 bn india sales by 2015

Japanese camera maker Canon has planned to provide a major thrust to its India business as it readies itself to further increase its footprint in the country where rising disposable incomes has fuelled demand for quality products. The company expects India to play a larger role in its global scheme of things and in the process contribute more to its revenues.

business Updated: Feb 08, 2012 23:26 IST
HT Correspondent

Japanese camera maker Canon has planned to provide a major thrust to its India business as it readies itself to further increase its footprint in the country where rising disposable incomes has fuelled demand for quality products. The company expects India to play a larger role in its global scheme of things and in the process contribute more to its revenues.

“We would like India to contribute around 5% to our total global revenues,” said Fujio Mitarai, chairman and CEO, Canon. Mitarai did not give any time frame by when the company expects to achieve this target but said, “…by 2015 we expect our India sales to touch $1 billion (R5,000 crore).”

This compares with Canon India’s sales of R1,525 crore during the calendar year 2011. In the current calendar year, the company expects to garner sales of around R2,280 crore from India. At present Canon India’s contribution to company’s global revenues is little less than 1%.

“Our growth in India has been impressive, yet we want to set more ambitious targets,” Mitarai added.

He refused to have any immediate plans to set up a manufacturing unit in India. “We are actively exploring the possibility to have a global call centre for Canon in India and hope that company’s Indian software team plays a key role for our R&D centre at Tokyo.”

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