Toyota Kirloskar Motor (TKM) said it remains deeply committed to the Indian market and its national objectives, refuting once again the claims by a senior company official earlier that it would stop further expansion in India due to high taxes.
The automaker, which sells models like Innova and Fortuner, said it has firm belief in the core strength of the country's economic growth potential and is fully committed to continually work towards contributing to economic development.
Keeping in sync with the vision of 'Grow India – Grow with India, during the past two decades of presence in the country, the company has worked tirelessly to invest in creation of a world-class talent pool and for building a strong competitive local supplier ecosystem in line with the "Skill India" and the "Make in India" initiatives, TKM Managing Director Masakazu Yoshimura said in a statement.
The company's operations in India are an integral part of its long-term global strategy, he added.
"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," Yoshimura noted.