Sony expects to earn 10 percent of global business from India

Kolkata, April 25 (IANS) Japanese electronic goods maker Sony is expecting to garner 10 percent of its total global business from India after five years.

"At the moment, five percent of Sony's revenue globally comes from India. Of course, we are aiming to grow much more in India. India's contribution (to the company's total business) should be much, much higher," Sony India General Manager (marketing) Tadato Kimura told reporters here.

"After five years, definitely the company's business in India should be among the five top markets in the world. We expect that the share would be 10 percent after five years," Kimura said.

He said the company's business in India was one of the highest in the world in all segments like digital still camera, television and laptop.

"We continue to be very aggressive in Indian markets. We focus on value-added products in metros mainly, while we are expanding the coverage as well as penetration (in rural areas) using our entry level models, which is affordable."

He said the company's growth rate from the rural markets should be higher.

Kimura, however, ruled out the possibility of setting up any manufacturing plant in India.

"So far, we do not have any plan to set up any plant in India. It is cheaper or economically justifiable to import rather than setting up a plant. There is no plan either to procure parts from the country as of today."

"If import duties continue to go up and rupee constantly depreciates, then some contingency measures may have to be considered," he added.