Yamaha expands musical instrument business in India
NEW DELHI, NNA - Japanese musical instrument maker Yamaha Corp. is expanding its business in India by starting local production and promoting music education at schools across the South Asian country.
Its Indian subsidiary, Yamaha Music India Pvt. Ltd., will start locally producing portable keyboards, acoustic guitars and other items at a plant in January. These items are currently imported from countries such as Indonesia and China.
"We will be partnering with local schools to offer music education programs including training of teachers in a bid to popularize the use of musical instruments," Yamaha Music India director Masayuki Imanishi told NNA in a recent interview.
In 2017, Yamaha's local arm, established in 2008, received a capital increase of 3.2 billion rupees (about $43 million) from its headquarters in the central Japan city of Hamamatsu to open the plant.
The subsidiary has set a target to locally produce 300,000 portable keyboards and 400,000 acoustic guitars annually by 2022 to cater to demand both in India and abroad.
Takashi Haga, managing director of the Indian unit, said Yamaha will boost its workforce from 200 workers at the initial stage to 800 by 2022, in line with planned output expansion.
"We are, in fact, targeting localizing procurement to 80 percent in the next three to five years" to strengthen Yamaha's competitive edge in the Indian market, he told NNA.
In a bid to rev up sales and marketing, Yamaha's Indian unit has already tied up with a few private schools before preparing to expand and promote music education at the grassroots level across the country, Imanishi said.
"Unlike some other countries where music education including the use of modern musical instruments is actively promoted at school levels, in India that trend is yet to pick up," he said. "Hence we are undertaking music education programs here."
Yamaha has carried out similar music education activities at a total of over 1,100 schools in Indonesia, Malaysia, Russia and Vietnam since 2015, including 250 elementary schools in Vietnam alone, according to its 2017 annual report. (NNA/Kyodo)