We'll grow but at slower pace: Canon India

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New Delhi, Oct 22 (UNI) Not insulated from the turmoil in global financial system, country's leading digital image company Canon India Pvt Ltd today said in next year, it will grow but at a slower pace as compared to the current and last year.

''We are optimistic about our growth in the next year...it will be about 30 per cent, which is less than the present growth rate of 35 per cent and last year's 38 per cent growth,'' company President and CEO Kensaku Konishi told reporters on the sidelines of a conference here.

Although the global financial crisis does not have a significant impact on the industry, it has ''created the uncertainty'', compelling the company to reduce its growth target, he added.

Canon India, the 100 per cent subsidiary of Canon Singapore Pte Ltd, targets to clock Rs 710 crore revenue this year, which stood at Rs 510 crore last year.

''This is a year of operational excellence...We will keep the growth momentum by introducing more products and focussing on e-government projects,'' he said.

However, Mr Konishi said the company has put on hold any new investments in the country on account of financial turmoil.

Also, it plans to increase the prices of its products across all categories by 5-15 per cent to counter the increased tax liability and rupee depreciation.

The company today launched 85 new product across all categories to encash the upbeat mood of the customers in the festive season.

Canon India markets 145 comprehensive range of digital imaging products, including photocopiers, fax machines, printers, scanners, digital cameras, digital camcoders and multi-media projectors.

UNI MP SG SB KN1723

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