India’s massive GDP contraction (-23.9 percent) in Q1 2020 has put the spotlight on domestic consumption. While many sectors have taken off during the pandemic, some like manufacturing, appliances and consumer durables have been severely dented with people cutting down on their discretionary spends.
Now, ahead of the festive quarter that begins in October, the government along with PSUs and private sector companies are deliberating on ways to revive consumer demand, ramp up local manufacturing and supply chains, and put India on the path to economic recovery by 2021.
To talk about all this and more, Manish Sharma, Executive Officer, Panasonic Corp and President & CEO, Panasonic India & South Asia joined YourStory Founder & CEO Shradha Sharma.
Manish has had a ring-side view of the consumer durables industry for almost 25 years, having led teams at LG Hotline, Samsung, and Haier prior to joining Panasonic in 2008. He’s also an industry voice, and presently serves as the Co-chair of FICCI’s Electronics & White Goods Manufacturing Committee.
During the conversation, Manish touched upon Panasonic’s key business verticals, India operations and growth plans, unlocking demand, scaling up local manufacturing, and reducing India’s dependence on China for imports.