Saloni Subha ( Intern Journalist ) Toyota is not leaving the country instead the company is investing Rs 2000 crore in one year. The company has clarified that the news “Toyota will stop investing in India “is not correct”.
Vikram Kirloskar who is in charge of the Heavy Industries portfolio has clarified that Toyota will invest more than Rs 2000 crore in the next twelve months. During an interview on Tuesday, Shekar Viswanathan, vice-chairman of Toyota Kirloskar Motor, Toyota’s local unit, informed that due to high taxes in the country cars are outside the reach of a majority of consumers. This means that factories are sitting idle and jobs aren’t created, he said.
“The message we have received after we have come here and invested money, is that we don’t want you”, said Mr. Viswanathan. In the absence of any reform, ” we won’t but we won’t scale up”, he added.
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