Toshiba will more than double Indian investment over the next 5 years to enhance production facilities as well as step up acquisitions. "We are going to invest $484 million in India, a huge, attractive market," said President Hisao Tanaka. The firm apparently plans to position the subcontinent as a strategic hub for
Toshiba will more than double Indian investment over the next 5 years to enhance production facilities as well as step up acquisitions.
"We are going to invest $484 million in India, a huge, attractive market," said President Hisao Tanaka. The firm apparently plans to position the subcontinent as a strategic hub for its infrastructure business in Asia.
With details yet to be worked out, Toshiba intends to focus on power generation and transmission. It will also more than double the number of employees to 8,000 by 2017.
Toshiba has gone on the offensive in India since last year, with a string of acquisitions in the transformer, switch gear and water treatment businesses. It has also set up a joint venture for elevator sales and maintenance.
Having sold such items as televisions in the Indian market, Toshiba is known mainly as a consumer electronics brand here. Branding itself as a force in infrastructure has been a challenge.