Japanese conglomerates Hitachi and Panasonic have announced their plans to invest more than Rs 5,700 crore in India, as both conglomerates want make India a base for expanding their businesses in Africa and the Middle East.

Hitachi, Japan's largest industrial power & electronics conglomerate that held its first board of directors meeting in New Delhi on Thursday, said it would invest Rs 4,700 crore on expansion plans in India that would include building five manufacturing plants.

In its `India business strategy 2015' plan, the 102-year-old conglomerate said that it would make India one of its top markets and achieve a three-fold increase in its Indian revenues to Rs 20,000 crore by the year of 2015-16.

Hiroaki Nakanishi, Hitachi's global president, said, "With its market, human resources and business partnerships, India is an important strategic base for Hitachi."

In addition, Hitachi also seeks to increase its human resource strength in India and double it to 13,000 by 2015-16.

Another Japanese conglomerate, Panasonic, has also announced its plans to invest more than Rs 1,000 crore in a new plant at Haryana. Panasonic also targets Rs 20,000 crore in revenues by 2014-15.

Panasonic said it would establish more manufacturing facilities in India and would become the country's biggest appliances manufacturer by 2018.

The Indian operations of Panasonic last year generated Rs 5,500 crore in revenues and aims to amplify the figure to Rs 10,000 crore this fiscal.