Dutch consumer electronics maker Philips today said it is planning to set up a

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new innovation centre in India in the next two years for developing domestic appliances, particularly for the emerging countries.

The company said the research centre will be one of the three centres that are likely to come up in countries, including Brazil and China. At present, it has one innovation centre for domestic appliances in the Netherlands.

"Under the domestic appliances division, there will be a a new business set up with special focus to develop products, which are locally relevant for emerging countries. India will be one of the three countries where the new centres will come up," Philips Electronics India Vice Chairman and Managing Director Murali Sivaraman told PTI.

Sivaraman said the new development is in line with Philips' global strategy to enhance its business in the emerging countries. At present, one third of the firm's overall sales comes of developing countries.

While he did not disclose the investment Philips Electronics India is likely to put on setting up the new centre, the firm invest around 40 million euros (over Rs 240 crore) annually on research and development in the country.

Earlier at its annual investor meet, Philips Electronics Chief Executive Officer Pieter Nota had said emerging markets will be a particular focus, with "consumer lifestyle investing in local marketing, design and innovation capabilities".

"In 2011, we will increasingly focus on growth, prioritising investment in key categories and markets. We will further strengthen our sector's position in emerging markets," Nota said.

For other overall purposes, the company has three R&D centres in Netherlands, India and China at present. Currently, the centres are focused on developing products in consumer lifestyle, healthcare and lighting segment.