Japanese consumer electronics major Panasonic on Thursday opened its first India Innovation Centre (IIC) in collaboration with global software major Tata Consultancy Services (TCS) in this tech hub to develop transformative solutions for its wide range of products.
"The Centre of Excellence (CoE) in the IIC will focus on five domains spanning connected home/community, mobility, energy, industrial and financial solutions, with the partners collaborating in the knowledge of technologies, industry best practices and understanding of the growing domestic market," said the Indian arm of Panasonic in a statement.
Transforming its business model to offer disruptive technologies in the Internet of Things (IoT), Mobility and Artificial Intelligence (AI), Panasonic is foraying into local manufacturing and development of appliances.
"The Centre, located in the IT bellwether's Bengaluru campus, will focus on open innovation in the consumer electronic space, leverage the technology with us and create geography centric USPs to develop innovative solutions," said Panasonic managing executive officer Daizo Ito on the occasion.
TCS will bring in industry know-how, global innovation practices and create an ecosystem for Panasonic to shape its future product strategy and enable in digital transformation.
The Centre will also bring Panasonic's research and development efforts under one roof, which will strengthen India's position as a critical region for the Japanese behemoth to lead innovation in the region, spawning India, South Asia, West Asia and Africa market.
"We believe a holistic centre is a key step towards our vision of being an autonomous body for the region and will drive innovations for a smart future. The consumer trends and behaviour is similar across these markets, giving India an edge to lead the innovation in this space," asserted Panasonic India CEO Manish Sharma.
The association with TCS will open new dimensions and modernise technological thinking in Panasonic, whose aim is to build a dynamic platform where technology meets innovation, young minds meet opportunity and industry meets solutions.
"Our partnership with Panasonic is unique as our knowledge and expertise will enable market specific smarter, disruptive and innovative solutions," added TCS vice president Regu Ayyaswamy in the statement.