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Will invest Rs 2,000 crore in India: Toyota Kirloskar Motor vice-chairman

High GST rates taking a toll on volumes, says Viswanathan

toyota
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Like several others that have a relatively smaller footprint, the local arm of the world’s largest automaker has been hit hard by the pandemic and is struggling to utilise its plants optimally

Shally Seth Mohile Mumbai
Toyota Kirloskar Motor (TKM) will not expand capacity if goods and services tax (GST) on automobiles is not reduced. The firm, however, will go ahead with its investment plans in India. In his tweet, Toyota Kirloskar Motor Vice-Chairman, Vikram Kirloskar said: “We are seeing the demand increase & the market recover slowly. The future of sustainable mobility is strong here in India and Toyota is proud to be part of this journey. We are investing Rs 2,000 crore towards the electrification of vehicles and helping build a strong India!”

But a high GST rate remains a concern for the firm.

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