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Toyota President meets Manmohan Singh

PHOTO: PTI

COURTESY CALL: Prime Minister Manmohan Singh (left) with President of Toyota Group Katsuaki Watanabe at a meeting in New Delhi on Monday.

NEW DELHI: Japanese automobile major Toyota Motor Corporation (TMS) President, Katsuaki Watanabe, on Mondoay called on the Prime Minister Manmohan Singh, even as the company continues to hold the cards close to the chest regarding plans of its second manufacturing unit in India.

Official sources said Mr. Watanabe, who led a delegation, including TMC Managing Director, Akira Okabe, briefed Mr. Manmohan Singh generally about the company.

TMC officials described the meeting as a courtesy call and did not comment on plans of a second plant in India.

Mr. Watanabe’s visit is to celebrate Toyota’s ten year of operations in India, the officials said. The company operates in India through a joint venture (Toyota Kirloskar Motor) with Kirloskar Group.

While it has successful models such as Innova in the passenger carrier segment, Toyota has not made a big impact in the cars segment in the Indian market.

It has been mulling over setting up of a second plant and enter the lucrative compact car segment in India with plans to capture about 15 per cent of the market by 2015. The company had earlier announced its plans to increase production in India to two lakh units by 2010 from 50,000 units now and then to six lakh by 2015. — PTI

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