Toshiba was targeting sales of Rs.18,000 crore from India by 2017.
Toshiba Corporation of Japan, on Friday, said it planned to invest Rs.3,000 crore in the Indian market in the next five years to expand footprint. Company President and CEO Hisao Tanaka said Toshiba was targeting sales of Rs.18,000 crore from India by 2017. Besides, the company planned to double its headcount in India.
“India is an important market for Toshiba.
“Toshiba will position India as a strategic world business hub in its thermal power, energy transmission and distribution equipment, water and water-waste treatment, and software development business,” Mr. Hisao Tanaka said.
In five years , the company will invest over $500 million, equivalent to Rs.3,000 crore in India, and create employment for over 5,000 people. This will take the number of employees in India to 8,000.
The company expects sales of $80 million in the country in 2013-14.
Shinichiro Akiba, Executive Officer and Corporate Senior Vice-President responsible for Toshiba’s Community Solutions Business, said, “Toshiba is targeting sales of $3 billion, about Rs.18,000 crore in FY2017 from the India region, some seven times the current level.”
Additionally, the company expects over 70 per cent of the sales growth and employment creation to come from infrastructure-related businesses.