| Addressing a press conference, deputy managing director, K K Swamy, said, "We increased the prices on our models by 1 per cent in January this year, Though the increase was marginal we would like to wait for the Union budget to come out and then take a decision. The high steel prices in the country is a worrying factor. The problem is that domestic manufacturers of steel are benchmarking their prices to the landed cost of imported steel, which is absurd." |
| Swamy said that the recent free trade agreement (FTA) with Thailand was a big opportunity for Indian auto component players to become very cost effective and make India a competitive manufacturing base. |
| TKM, he said, would soon start exporting engine transmissions from India to other Toyota plants across the world. Toyota has invested close to Rs 480 crores at setting up a 100 per cent for export transmission unit in the Bidadi industrial area near Bangalore. |
| "From July this year we will be exporting transmission to other Toyota plants and these will not just be for the platforms that are being produced in India," Swamy said. |
| Toyota has invested close to Rs 1,400 crore at its plant near Bangalore. |
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