Toshiba sets up Indian subsidiary
By Our Corporate Bureau | 03 Dec 2001
New Delhi: Toshiba Corporation has decided to convert its Indian liaison office into a wholly-owned subsidiary and has earmarked Rs 5.2 crore for the venture.
Toshiba India has already obtained the government's approval for its plans to expand business in India. The company will focus on information technology and infrastructure, besides providing marketing and sales support to all Toshiba group products in neighbouring countries like Nepal, Bhutan and Sri Lanka.
Toshiba Corporation has had a liaison office in the country for the past 16 years. The company is currently involved in developing power projects as also in several IT initiatives, including outsourcing software solutions from leading Indian firms. It is also a significant player in the business of manufacturing semiconductors and medical equipment.
The new entity will focus on outsourcing software support services from India to other Toshiba group companies. It will also concentrate on spearheading research and development initiatives in the country. Toshiba has envisaged significant expansion plans in the power sector. While the company is undertaking several power projects in India, it plans to obtain a firmer foothold in this area.
It has approached the Indian government, seeking permission to undertake infrastructure projects and to procure Indian equipment for projects. At present, Toshiba India will continue to operate from its existing New Delhi office and later branch out to other parts of the country.
Toshiba India has already obtained the government's approval for its plans to expand business in India. The company will focus on information technology and infrastructure, besides providing marketing and sales support to all Toshiba group products in neighbouring countries like Nepal, Bhutan and Sri Lanka.
Toshiba Corporation has had a liaison office in the country for the past 16 years. The company is currently involved in developing power projects as also in several IT initiatives, including outsourcing software solutions from leading Indian firms. It is also a significant player in the business of manufacturing semiconductors and medical equipment.
The new entity will focus on outsourcing software support services from India to other Toshiba group companies. It will also concentrate on spearheading research and development initiatives in the country. Toshiba has envisaged significant expansion plans in the power sector. While the company is undertaking several power projects in India, it plans to obtain a firmer foothold in this area.
It has approached the Indian government, seeking permission to undertake infrastructure projects and to procure Indian equipment for projects. At present, Toshiba India will continue to operate from its existing New Delhi office and later branch out to other parts of the country.