In a tweet, he said: “We are investing more than 2000 crs in electrical components and technology for domestic customer and export. We are committed to the future of India and we will continue to put all our effort in society, environment, training and technology “. ”
The statement comes amid reports that the company will halt its expansion into India due to the country’s high tax regime.
Kirloskar’s tweet came in response to Union Minister Prakash Javadekar’s post on Twitter that reports that Toyota halted investments in India were incorrect.
In another tweet, Kirloskar said: “We are seeing demand increasing and the market slowly recovering. The future of sustainable mobility is strong here in India and Toyota is proud to be a part of this journey. We are investing over 2000 crs in electrifying vehicles and helping build a strong India! ”
Earlier, in a separate statement, TKM assured that its first priority is to ensure full utilization of the production capacity it has already created in the country.
The company further said that it remains committed to the Indian market and that its operations in the country are an integral part of Toyota’s global strategy.
“We need to protect the jobs we have created and we will do everything we can to achieve this. During our two decades of operations in India, we have worked tirelessly to build a strong competitive local supplier ecosystem and develop strong and capable human resources,” said the manufacturer. Of automobiles.
In the wake of the slowdown that has been exaggerated by the impact of COVID-19, the auto industry has been asking the government for support to sustain the industry through a viable tax structure, TKM noted.
“We remain confident that the government will do everything possible to support industry and employment. We recognize the strong proactive efforts that the government is making to support various sectors of the economy and we appreciate the fact that it is open to examining this issue. despite the current difficult income situation, “he added.
(With contributions from the agency)
.
