<p> <i> 20.50 pm </i> Japan's Toshiba Corp said it plans to invest 30 billion rupees ($481 million) in India over the next five years to expand its businesses in the country.

Toshiba will position India as a strategic business hub in its thermal power, energy equipment, water treatment and software development businesses, chief executive officer Hisao Tanakasaid in a statement.

The company said it is targeting sales of 180 billion rupees from the India region by 2016/17, about seven times from the current level. It expects to employ 8,000 people in India by then. </p>