Japan Tobacco will close its joint venture in India at the end of this year, due to the stringent rules regarding foreign direct investments (FDI) in tobacco according to the Business Standard.

Japan Tobacco has a 50-per-cent stake in JT International Indian Pvt Ltd, jointly with a Mumbai-based partner. The venture has already surrendered its licence to manufacture five billion cigarettes per annum to the government. Its Hyderabad factory has been closed and nearly 70 employees are expected to lose their jobs.
The Indian company used to sell two international brands, Gold Coast and Winston. (pi)