Toyota releases a 2nd statement on its commitment to India

Earlier this week, we had reported that Shekar Viswanathan - Vice Chairman, Toyota Kirloskar Motor, had stated that the company won't scale up its operations in India due to the government's high tax regime. At the same time, he had clarified that Toyota has no plans to exit the Indian market.

Later, on the same day, Toyota had released a statement on its commitment to India. Now, Masakazu Yoshimura - Managing Director, Toyota Kirloskar Motor has given a statement on the matter.

Toyota Kirloskar Motor continues to be deeply committed to India and its national objectives. We have firm belief in the core strength of the country’s economic growth potential and are fully committed for continually working towards contributing to the economic development. Keeping in sync with our vision of ‘Grow India – Grow with India, during the past two decades of our presence in the country, we have worked tirelessly to invest in creation of a world-class talent pool and for building a strong competitive local supplier eco-system’ in line with the ‘Skill India” and the “Make in India” initiatives. Our operations in India are an integral part of our long-term global strategy. As part of these efforts, Toyota Group in India is targeting to invest over Rs. 2,000 crore in India in the coming years on technology and electrification, both for the domestic and the exports market. We reaffirm that TKM intends to make all efforts to promote and introduce newer, cleaner and world-class technologies and services in the market.