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Panasonic to muscle into Indian refrigerator production

Electronics group targets market with double-digit growth

A Panasonic refrigerator.

OSAKA -- Panasonic aims to start producing refrigerators in India in 2018, pursuing a bigger slice of a market with a major South Korean presence.

The Japanese electronics giant has budgeted roughly 20 billion yen ($176 million) to open two or three plants, envisioning a refrigerator supply chain serving all of India. By deepening ties with mass retailers in the country, it aims to triple sales there to around 1 million units per year, Panasonic's highest volume of fridges in any market.

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