Mumbai (Agencies): The US-based leading premium audio and infotainment solutions provider, Harman International Industries, mulls on to invest around USD 100 million over the next 3-5 years to increase its mark in India, a top company executive has said.

The firm, which set up its own entity in mid-2009 in India, is aiming at Rs 1,200-crore business over the next five years, he said.

"Considering the increasing consumer base, which invests in gadgets and leisure activities, India has become one of the lucrative markets for us. To increase our footprint in India, we plan to invest around USD 100 million over the next 3-5 years," said company managing director and country manager for India operations Lakshminarayan M.

The disposable income with Indian consumers is likely to increase at a rate of 8.5 per cent per year till 2015, and this is a positive sign for the company to create a market for better gadgets for all forms of music, he said.

"India's audio and infotainment market is around USD 250 million and is expected to double in the coming 3 to 5 years. All these factors are very conducive for our growth. We expect our turnover to cross Rs 1,200 crore over the next 5 years,"

The firm reported Rs 240-crore turnover in 2010-11.

“…We will increase our footprint in the market and in order to support this we are currently planning on both organic and inorganic growth options. We also plan to launch a few new products with specific features to suit the Indian market," Lakshminarayan said.