MUMBAI Japan's Toshiba Corp (6502.T) said on Friday it plans to invest 30 billion rupees 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 India by 2016/17, about seven times from the current level. It expects to employ 8,000 people in India by then.
(Reporting by Prashant Mehra; Editing by Subhranshu Sahu)
Trending On Reuters
The global coal industry is trumpeting "cleaner coal" technology to fight bubbling competition from renewable energy, but the high costs of greener plants are proving a major obstacle in selling them to power-hungry countries such as India. Full Article