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Toshiba says to invest $500 mln in India businesses over 5 years
February 14, 2014 / 12:40 PM / 4 years ago

Toshiba says to invest $500 mln in India businesses over 5 years

MUMBAI, Feb 14 (Reuters) - Japan’s Toshiba Corp said on Friday it plans to invest 30 billion rupees ($481 million) in India over the next five years to expand its businesses in the country.

Toshiba will position India as a strategic business hub in its thermal power, energy equipment, water treatment and software development businesses, Chief Executive Officer Hisao Tanaka said in a statement.

The company said it is targeting sales of 180 billion rupees from the India region by 2016/17, about seven times from the current level. It expects to employ 8,000 people in India by then. ($1 = 62.36 rupees) (Reporting by Prashant Mehra; Editing by Subhranshu Sahu)

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