Commenting on the decision, Dr. Katsutoshi Toda, Chairman & Managing Director, TTDI, said: "We are delighted to step forward and add a new and promising business to our portfolio.

"India is an exciting, growing market that is committed to robust, long-term investment, especially in electricity and transportation infrastructure, and we are strongly committed to the country across our business lines. We will grow the new manufacturing base with investments that, I hope, will provide employment and contribute to "Make in India" for India's industrial development. We will also endeavor to enhance our global competitiveness."

India has long relied on railways to knit together the country, and its current high economic growth is stimulating demand for modernization. Demand for railway transportation is increasing rapidly, led by government-led construction of dedicated freight corridors and an ever expanding reliance on subway systems in major cities.

By establishing a new manufacturing base, Toshiba considers India as one of the important markets with significant growth potential. The company looks forward to accelerating global expansion of its railway systems business through its highly reliable technology and service offerings.
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