With a view to expand its marketing network and ramp up its production capacity, electronic and electrical products maker, Panasonic said that it would invest $300 million in India by the next three years.

The Japanese company would also come up with some factories during this period. At present, the company imports washing machines, air conditioners and plasma TVs from its Thailand and Japan units in India.     

"In India, we have five factories and plan to open more in a period of three-years. We will continue to invest in the Indian market as we want to take opportunity of such times (of recession) when other markets are shying away," the company's Director (Operations and Planning), Arjun Balakrishnan told reporters.

To begin with, the company in its first year would come up with a promotion campaign that will include the print media and television.

Currently, the Panasonic products are sold at 3,000 outlets round the country. By the next year, the company is planning to raise them by 6,000.

Besides this, the company is also looking for a market share of 10 per cent in the split AC space.

The company had also rolled out its latest range of eco-friendly air-conditioners, priced between Rs 21,900-Rs 55,000.

Balakrishan also pointed out that the company would also come up with a research and development centre in India. “We are looking at setting up a global R&D centre in India that would develop India-specific products.”

Earlier this month, Panasonic Corp. has decided to cut nearly 15,000 jobs as it braced for a big loss this due to the current global economic meltdown.