Nikon Says India Will Emerge as Top 3 Country for Creative Imaging

About five years ago, India was ranked 15th in the world in this sector but went up the ladder to get the 5th position in terms of revenue in the field, Ninomiya said.

"In view of its potential as well as the fascination for photography in the country, I can assure that India will become world's no. 3 country of the world in next five years' time," he claimed.

Ninomiya was speaking in the steel city to launch the first Coolpix zone in Jamshedpur. He was accompanied by the Vice-President (Imaging division) of Nikon India, Sajjan Kumar.

Asked whether his company has any plans to take part in the Union government's 'Make in India' initiative, Ninomiya said, "I cannot say anything about the near future as it depends on the decision of the company management."

He said the company is looking at 30 to 50 percent growth in its turnover in the next five years.

"We have recorded Rs. 1,100 crores turnover in the last fiscal and wanted to enhance it by 30 to 50 percent in next five-year period," he said.

Kumar, the Vice-President of the company, said the market share of Nikon India, a 100 percent subsidiary of Tokyo-based Nikon Corporation, was 55 percent and efforts were on to increase it further by introducing new products and innovation.