Toshiba to invest $500m in India businesses over 5 years

Tags: Companies
Japan's Toshiba Corp 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.

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