New Delhi: One of the world’s biggest imaging and photographic companies, Fujifilm Corporation is setting up a wholly-owned subsidiary in India with an initial investment of Rs10 crore. It also plans to capture a significant share in the growing domestic market.
The new subsidiary named as Fujifilm India Pvt Ltd will enable the company to capture the rising demand of digital imaging products, photo and graphic systems and medical equipment, while continuing its partnership with its existing dealers and distributors.
“After studying the Indian market carefully, we have realized that the demand for our products here is growing. Our focus will be on creating a strong market for Fujifilm digital cameras and medical systems in India to capture a substantial share in years to come,” Kenichi Tanaka, Fujifilm Corporation India Branch Office general manager told PTI.
He said the company will invest an initial capital of Rs10 crore to set up the subsidiary which is expected to be fully operational by April this year.
“We will be able to buy some software locally through the new company for our medical systems like SYNAPSE (PACS) and also provide support in terms of marketing and training to our partners here for the other segments like photo, graphics and digital camera,” Tanaka added.
The company operates in India through its branch office and dealers, including Jindal Photo Limited (JPL) and PID Private Limited (PIDPL).
Commenting on the growth of digital imaging market in India, Tanaka said, “we expect the market here to grow at a rate of 30-40% every year, while the company’s target is to grow faster than the industry rate.”
When asked about the market share which the company was targeting across segments in India, Tanaka declined to share specific details, but said Fujifilm expected to have a greater share in the digital camera market here as compared to what it had in Japan.
The company manufactures and markets a range of consumer and business products, including digital cameras, mobile printer, photo film, film camera Instant, photofinishing products graphic systems, medical systems, professional films, life science systems and motion picture films.