Panasonic India now seen more as Indian company with Japanese roots: Manish Sharma

Panasonic India, part of Osaka, Japan-based multinational Panasonic Corporation, is now seen more as an Indian company having Japanese roots after working for almost two decades here, its outgoing Chairman Manish Sharma said.

Panasonic India is transforming towards becoming a solutions-oriented company with its ''two engines of growth'' -- consumer business consisting of air conditioners, TVs, and appliances, along with a B2B and industrial solutions portfolio, covering automation, energy, and digital integration, he said. ''Both engines are well-oiled. The second one is driving faster growth at the moment, but both are critical for balance and resilience,'' Sharma told PTI after announcing his exit from Panasonic India after leading the company for 13 years.

He expects the smart factory solutions business, ''which is growing phenomenally'', to reach Rs 1,000-2,000 crore in the next few years as surface mount technology (SMT) machines -- critical for electronics manufacturing -- are expanding at a compound rate.

''These are exciting times because Panasonic India's identity is shifting -- from a consumer company to a technology and manufacturing powerhouse. That transformation is well underway,'' he said.

About his biggest leadership contribution to Panasonic India, Sharma said it was ''transforming the company's mindset from being a product-centric to solution-driven, and from a hierarchical to an entrepreneurial company''.

By decentralising power, a more accountable and innovative organisation was created, he added.

''When I joined, approvals and hierarchies defined the company. Today, we are an organisation where people feel (a sense of) ownership and take decisions boldly. The most rewarding thing for me is seeing that empowerment is reflected across levels,'' he said, adding, ''That cultural shift is what I value the most''.

Sharma, who joined Panasonic in 2008, became its MD & CEO in 2012 and subsequently climbed the top of the ladder, becoming Chairman of the merged entity Panasonic Life Solutions India, is handing over his baton to Tadashi Chiba, a Japanese national, who is currently the MD & CEO.

He was probably among the first Indians to be appointed for a leadership role by a Japanese multinational to lead its Indian business. This trend was later seen in several Japanese companies operating in India.

''I was lucky to become a benchmark and example for many other Japanese companies in 2016. Nikon, Sony, Daikin, Hitachi, etc, all started bringing in Indian heads,'' he said. In 2016, Manish Sharma was appointed the executive committee member of the Japanese parent body, Panasonic Corporation, in his early-40s.

''I coincidentally became the youngest to become the executive officer of Panasonic Corporation in its 100-year history... there used to be 42 executive officers for the corporation, only three non-Japanese. I was one of them and the youngest ever,'' he said, adding, ''I think that became an inspiration, both for people to aspire for more and also for Japanese companies to consider empowering local executives.'' Today, Indians are doing so well, both in the country and elsewhere, leading large companies.

Sharma, who will cross a milestone 30 years in his professional career in January, said, ''I think the country is at a cusp... and people with experience like mine should surely contribute to the growth of manufacturing. ''Around March or April, I should be ready to announce what's next. What I can promise is that it will be larger in magnitude and impact than anything I have done so far.'' Sharma further said he ''found it very difficult to convince the global management'' of the Japanese multinational for his resignation.

After his elevation as Chairman in 2021, he was overseeing strategy planning and business development for Panasonic businesses in India.

''Honestly, my role was more as a guiding light, somebody who will strategically guide them and ensure that the guardrails are in place. So in that sense, I am leaving no void. People, including some excellent talent whom I hired in the last 10 years from various companies, will be able to take it forward,'' he said.

Sharma joined Panasonic in 2008, when it made a significant re-entry into the Indian market by integrating different businesses. That time, ''the size of Panasonic was really small'' and for the initial seven to eight years ''we invested in building the consumer portfolio, which happens to be the identity of the company''.

After his elevation as President & CEO, Panasonic India, he invested his ''time and effort in building the B2B businesses, industrial devices, smart factory solutions, SMT machines, energy products, industrial devices... my effort in last 7-8 years has gone to build the future of Panasonic, which is the B2B and the solutions businesses''.

Now Panasonic in India stands very differently both in terms of capabilities as a company, which is more solution-oriented and not only specific to consumer appliances.

''When I joined, Panasonic was a Japanese company operating in India and today Panasonic India is increasingly being seen as a company operating for India for its people, with its roots in Japan,'' said Sharma, who will step down as Chairman of the company by end of this year.

According to Sharma, this has been his ''biggest accomplishment'' while ''being at the helm of leadership'' of Panasonic in India for almost 13 years, besides business growth or sustainable growth, which he could achieve for the company in the country.