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

New Delhi, Nov 9 (PTI) Manish Sharma, outgoing Chairman of Panasonic India, part of Osaka, Japan-based multinational Panasonic Corporation, said that after working there for almost two decades, it is now seen more as an Indian company with Japanese roots.

Panasonic India is on track to become a solutions-focused company with “two engines of growth” – consumer business of air conditioners, TVs and home appliances, as well as B2B and industrial solutions portfolio spanning automation, energy and digital integration, he said.

“Both the engines are well oiled. The latter is currently driving faster growth, but both are critical for balance and durability,” Sharma told PTI after announcing his exit from Panasonic India after leading the company for 13 years.

He expects his “extraordinarily growing” smart factory solutions business to reach: ₹1,000-2,000 crore in the next few years as surface mount technology (SMT) machines, critical for electronics manufacturing, expand at a compound pace.

“These are exciting times as Panasonic India’s identity is changing from a consumer company to a technology and manufacturing powerhouse. This transformation is accelerating,” he said.

On his biggest leadership contribution to Panasonic India, Sharma said it was “transforming the company’s mindset from being product-focused to solution-focused and from a hierarchical company to an entrepreneurial company.”

He added that by centralizing power, a more responsible and innovative organization is created.

“When I joined, approvals and hierarchies defined the company. Today, we are an organization where people feel ownership and make bold decisions. The most rewarding thing for me is seeing empowerment reflected at the levels,” he said. “This cultural shift is what I value most.”

Having joined Panasonic in 2008, becoming Managing Director and CEO in 2012, and subsequently climbing to the top of the ladder to become President of the merged Panasonic Life Solutions India, Sharma is handing over his role to Japanese national Tadashi Chiba, who currently serves as MD and CEO.

He was probably among the first Indians to be appointed to a leadership role to manage the Indian affairs of a Japanese multinational company. This trend was later seen in many Japanese companies operating in India.

“In 2016, I had the chance to become a reference and example for many other Japanese companies. Nikon, Sony, Daikin, Hitachi etc. all started bringing in Indian brains,” he said.

In 2016, Manish Sharma was appointed as a board member of Japanese parent company Panasonic Corporation when he was in his early 40s.

“Coincidentally, I became the youngest person to become chairman of the board of directors in the 100-year history of Panasonic Corporation… There used to be 42 directors in the company, only three of whom were non-Japanese. I was one of them, and the youngest ever,” he said. “I think it served as an inspiration both for people to aspire for more and for Japanese companies to consider empowering local directors.”

Today, Indians are doing a very good job leading large companies both in the country and elsewhere.

“I think the country is at a turning point… and I think people with experience like me should definitely contribute to the growth of production,” said Sharma, who will cross a 30-year milestone in his professional career in January.

“Around March or April, I should be ready to announce what the next step is. I can promise it will be of greater magnitude and impact than anything I’ve ever done.”

Sharma also said the Japanese multinational had “a very difficult time convincing its global management to resign.”

After ascending to President in 2021, he was overseeing strategy planning and business development for Panasonic businesses in India.

“Honestly, my role has been more of a guiding light, someone to guide them strategically and make sure the guardrails are in place. So I’m not leaving any gaps in that sense. People will be able to take this forward, including some of the excellent talent I’ve recruited from various companies over the last 10 years,” he said.

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

After rising to become President and CEO of Panasonic India, he “devoted his time and effort in building B2B businesses, industrial devices, smart factory solutions, SMT machines, energy products, industrial devices… my effort in the last 7-8 years has gone towards building the future of Panasonic, B2B and solutions businesses”.

Now in India, Panasonic is in a very different position in terms of capabilities as a company that is both more solution-oriented and not specific to consumer devices only.

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

According to Sharma, this has been his “greatest achievement” besides the business growth or sustainable growth he has been able to achieve in the country after being “at the helm” of Panasonic in India for almost 13 years.