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Toyota stops expansion in India citing too high taxes

Shortpedia

Content Team
Image Credit: Shortpedia

In a major setback amid the Indian government's attempt to lure foreign firms to set up manufacturing units in the country, automaker Toyota Motor Corporation has said it won't expand its operation any further in India citing the high taxes. “The message we are getting, after we have come here and invested money, is that we don’t want you,” Shekar Viswanathan, vice-chairman of Toyota’s local unit said.