"We have factored in the impact until the Indian rupee is at 62 to the US dollar. But, if the rupee depreciates below Rs 62 to the USD, then we would be forced to pass on the impact onto consumers," Panasonic India Managing Director Manish Sharma told reporters.
The company proposes to invest Rs 1,500 crore in India over three years to target revenues of over Rs 20,000 crore from the country. It closed with a turnover of Rs 7,400 crore last year.

In a bid to minimize the impact of a depreciating rupee, the company is working on a 'reverse integration' plan for its manufacturing facility at Jhajjar in Haryana, as well as looking beginning export operations from there.
"We are working on reverse integration like controlling input costs and focusing on localization, among other measures for our recently set up factory in Jhajjar for making air conditioners and washing machines," Sharma said.
"We are also looking at catering to the Middle-East and Africa from Jhajjar," he said.
"We are in discussion with local companies to develop reliable products in India to minimize the impact," he said, adding that, components like motors of washing machines may be sourced locally.
Geared up to roll out an aggressive sales promotion campaign ahead of festivals in Gujarat, Panasonic will enhance the tally of its retail counters in the state from the existing 680 to 900, within this fiscal year.
"Five more retail sales points will be opened in next 45 days in Gujarat, which is among the top three markets for us, contributing nearly 11 per cent to our all India sales," a company official said.



Latest News  from Business News Desk