Fujifilm Expects To Continue Double-Digit Growth In India, Says Country Head

Japanese conglomerate Fujifilm is aiming to press on with double-digit growth across verticals, including camera, printer, and healthcare, in India, its Managing Director in the country Koji Wada said on Thursday.

India is 'one of the most important markets' for Fujifilm, which has witnessed high growth from its medical business, its mainstay in the country, he said.

Its digital instant cameras Instax series has also seen 1.5 times growth in the current fiscal, Wada said.

"In India, we have been witnessing an overall double-digit growth after Covid. So, we will try to keep this momentum," Wada told PTI.

India 'is a growing market' and 'all our categories (in which Fujifilm operates) are growing', he said, adding that the company is also considering having some manufacturing operations in the country.

Though he did not share any specific details about starting any manufacturing operations here, he said, "We are thinking about it but it will take some time."

About 70% of Fujifilm's India revenue comes from its healthcare sector.

The company has a good presence in the healthcare segment which includes X-ray imaging, endoscopy systems, MRI and CT systems and ultrasonic imaging diagnostics.

"As far growth is concerned, we are having second highest growth from the medical system after Instax" business, said Wada.

The rest comes from its other business verticals such as imaging -- which includes its camera business -- printers, industrial products business, and others.

As per the registrar of companies filing, Fujifilm India Pvt Ltd's turnover was at Rs 1,477.72 crore for FY23.

Fujifilm on Thursday announced expansion of its Instax business by adding the Mini 99 series to the Instax family of analogue instant cameras.

Fujifilm almost enjoys a monopoly in the instant camera segment, contributing around half of its camera business, which includes its GFX and X series of mirrorless digital cameras.

"Instax has been the highest growing category... It has almost grown 1.5 times in this financial year so far," said Arun Babu, Associate Director & Head of Digital Camera, Instax & Optical Devices Business, FUJIFILM India.

Fujifilm's Instax is currently sold through around 2,000 retail outlets besides online channel partners, such as Flipkart, Amazon.

"The last two years were good for us. We have been developing this category with different kinds of channels... Next year, we are aiming to reach to 3,500 outlets in multiple cities across the country," he said.

About mirrorless digital cameras, where Fujifilm competes with other makers such as Sony, Nikkon, Cannon, etc, Babu said this category is also growing but Instax would be the fastest growing category for the next 2-3 years for which, the company is investing in branding and promotions.

The company is associating with the upcoming IPL season for its newly launched Mini 99 series and also roping in a brand ambassador from Bollywood.