Panasonic reportedly targets $1 billion revenue from India by 2012

Panasonic /quotes/comstock/13*!pc/quotes/nls/pc (PC 16.93, -0.12, -0.70%) is looking for sales revenue of $1 billion from its Indian operations by 2012 and is looking to enter the automobile sector there, the Press Trust of India reported Sunday, citing Panasonic India's director of operations and planning, Arjun Balakrishnan.

Sales in India will increase mainly due to growth in the consumer durables and home appliances sector, the PTI reported Balakrishnan as saying.

Balakrishnan also said the company was looking to enter the domestic automobile sector, and was in talks with leading car makers, the PTI reported.

Source India car.com: Source : http://www.marketwatch.com (1/17/2010)