FUJIFILM is establishing a wholly owned subsidiary in India with an initial investment of $2.5 million.
The new subsidiary, FUJIFILM India Private Ltd., will enable the company to capture the market of digital imaging products, photo and graphic systems and medical equipment, while continuing its partnership with existing dealers and distributors, the company said.
"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," according to Kenichi Tanaka, FUJIFILM India branch office general manager.
Tanaka also said the subsidiary is scheduled 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 said.
The company will operate in India through its branch office and dealers, including Jindal Photo and PID Private.
On the growth of digital imaging market in India, Tanaka said, “we expect the market here to grow at a rate of 30-40 percent every year, while the company's target is to grow faster than the industry rate.”