NEW DELHI: Toshiba Corporation on Tuesday said it would foray into the Indian home appliances and mobile handset markets with its exclusive range of products later this year.

``India has emerged as one of the few markets in the world, which offer growth and earning potential in all areas of businesses,'' Toshiba India Pvt Ltd (TIPL) Managing Director Itaru Ishibashi told reporters here.

``We are planning to introduce our products some time after Diwali and are studying the requirements of typical Indian households for that,'' he said.

The company is planning to launch products such as refrigerators, washing machine, kitchen equipment and mobile phones in the Indian market.

He said the company was open to the idea of making investments in the country but that depended on the consumer reaction to its products.

``Initially, the products will be imported from Thailand because India has an FTA with that country,'' he said. Mr Ishibashi said the company had planned to spend a few million dollars for brand building prior to the formal launch.

TIPL had already presence in the Indian software and hardware sector. It had done business worth $10 million during April-December 2005 and expected to grow by 15 per cent this year. He said Toshiba was in talks with a few Indian companies for partnerships in the distribution network area. "But nothing has been finalised as of now,'' he said. — UNI

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