New Delhi, May 18 (UNI) Japan-based surveillance equipment maker CBC Corporation has formed a hundred per cent subsidiary to launch its direct operation in India and aims to be among the top four players in next three years.
''We have formed a subsidiary to launch our operations in the country and aims to be among the top four players in the Rs 1,000 crore Indian market,'' CBC Corporation India Managing Director Tomizo Nishikawa told reporters here.
Presently, the company supplies the (closed circuit television) CCTV cameras and lenses to Indian market through its six overseas manufacturing units, but plans to set up its own production facility in India from it will meet the country's demand as well as supply to other countries.
''We plan to set up our own manufacturing unit in the country by next year to meet the country's demand. We will also supply from here to other countries,'' he said.
CBC has been selling its products in the Indian market for the last 26 years.
''By having a direct presence in the country, we can also provide prompt technical support to our customers here,'' Mr Nishikawa said.
CBC registered a turnover of 2.3 billion dollars last fiscal and deals in CCTV cameras and lenses, industrial optics, chemical and pharmaceutical products, medical devices, precision instruments and plastic textiles.
Security surveillance (CCTV) is a key division for the company contributing about 25 per cent of its annual turnover. CBC has direct presence in 24 countries.
The company manufactures about 500,000 cameras per annum globally, and aims to manufacture 50,000 cameras in India to begin with.
The Indian market for security solutions which include video surveillance and access control, is estimated to be over Rs 1,000 crore. Within this, the video surveillance market is estimated to be about Rs 330 crore, growing at the rate of 20 per cent year-on-year.
UNI MP PDT KP1637