Japanese imaging-product major Nikon is expecting a growth of 40-45% in India this financial year, targeting a revenue of ₹745 crore with increasing demand and easing pandemic situation, a top company official said.
“This financial year, the market looks very promising for us,” said Sajjan Kumar, MD, Nikon India Pvt. Ltd.
“The festive sales were strong. Now, we have the wedding season coming up and are also seeing demand from professionals from fashion and wildlife. Despite certain shortage issues we are trying to meet the demand.”
The company, which closed the previous year with a revenue of ₹520 crore, saw strong demand from content creators, Vloggers and YouTubers during the pandemic.
“This year, we are expecting 40-45% growth. Seven months have passed and we are on track to achieve this growth,” Mr. Kumar said. “We are seeing growth not only in metros but beyond metros as well, from tier 2 and tier 3 cities. Currently 65% of demand is from top 10 cities and 35% from Tier II/III cities.”
He added that in value terms, Nikon India was among the top five countries for Nikon Corporation Imaging business, contributing about 5% to the business.
On the growth of the industry, he said that this year, the imaging industry is expected to post a double-digit growth of 25%.