Toshiba to invest Rs. 3,000 cr in India, to hire 5,000 people.

Japanese engineering and electronics company Toshiba Corporation said it will invest over Rs. 3,000 crore in India over the next five years in energy transmission and distribution equipment, energy-efficiency and software development businesses.

The company will hire 5,000 people in India over the period, as it will ramp up capacities and also develop the third largest economy in Asia as an export hub for markets for such as South-East Asia, West Asia and Africa.

Toshiba President and CEO Hisao Tanaka, who is on his maiden visit to India, told reporters: 'For Toshiba, India is important not only as a market, but also as a strategic export and development base with highly talented people. Toshiba will position India as a strategic world business hub in its thermal power, energy transmission and distribution equipment, water and waste-water treatment, and software development businesses.'

He said the company is targeting sales of Rs. 18,000 crore from India by 2017.

HBL