The Toyota Kirloskar Motor (TKM) is of the opinion that they would contribute to the growth of the Indian economy.
Toyota India was established on October 6th 1997. The initial capital investment was of Rs 7 billion. The Toyota Motor Company of Japan has 89% of equity shares and the Kirloskar Group of India has 11% equity shares in their JV called "Toyota Kirloskar Motor (TKM)." Toyota Motor Company is a Japanese Multinational Company and is the second biggest automobile manufacturer of the world. It is one of the elite three manufacturing companies of Japan who has the potential to challenge the big American automobile manufacturers.The other two being, HondaMotor and Nissan Motors ,who are equally capable. It has been estimated that if the production of automobiles by Toyota remains the same then, it will become the world's largest automobile manufacturer by 2008 overtaking, General Motors.