Calcutta, March 2: Sharp Business Systems (India) Ltd, a 100 per cent subsidiary of Japanese electronics major Sharp Corporation, will invest Rs 272 crore to set up a production unit for inverter ACs in Pune.
The plant will have a capacity to manufacture 5 lakh units a year in the first phase.
For the past one year, Sharp Business Systems has been importing inverter ACs to India from it’s manufacturing base in Thailand.
The company has set a turnover target of Rs 5,000 crore by 2015 and is focusing on ACs to grab a bigger share in the consumer durables market.
Sharp’s sales turnover in India in 2011 stood at Rs 910 crore.
“Our target is to achieve 50.8 per cent share in inverter AC, 10 per cent in frost free refrigerators, 5 per cent in LED televisions and 6 per cent in micro wave ovens by 2015,” said Sunil K. Sinha, CEO (India region) and managing director, Sharp Business Systems (India).
“Refrigerator manufacturing can begin in 2014. One year from now, we may look at exporting from India to neighbouring markets. The vision is to make India among the top five markets for Sharp globally,” he said.