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Japan-based car audio maker Pioneer Electronics has said it is targeting revenue of Rs 500 crore in the next three years from its Indian operations.

It has earmarked an overall investment of around Rs 16 crore for launching products, promotion and brand building activities.

“India is a potential market for our products. It is the right time to introduce our products as we believe that the sales of auto will improve in another six months. And I hope we can make Pioneer a Rs 500-crore company in another three years,” Pioneer India Electronics Managing Director, Mr Takashi Yoshida, told reporters here. It is upbeat on the growth prospects in the Rs 1,200-crore in-car entertainment market in India and is launching car audio systems customised for the domestic market.

Pioneer is targeting original equipment manufacturers and consumer markets to garner prominent position in the segment.