While noting that India had 5-10 times more regulations than Thailand or Indonesia, he also said 'Make in India' initiative will enhance India's competitiveness.

When asked to explain "unique regulations", he refereed to the sub-4 meter regulation.

At present, a car with a petrol engine capacity under1,200 cc or diesel engine under 1,500 cc and with a length shorter than four meters attracts an excise duty of 12 percent. However, if the length is more than 4 meters, the duty could go as high of 30 per cent depending on the size of thecar.

"Make in India will give us a very good opportunity to promote exports more from India because our export strategy globally is based on competition," he told reporters here.Toyota is present in the Indian market through a joint venture with the Kirloskar Group -- Toyota Kirloskar Motor
(TKM).

"So we are in a global competition  so 'Make in India' initiative will promote a lot of competitive activity to enhance its (India's) competitiveness... but at the same time we will have to eliminate unnecessary unique regulations in India," Ishii said.

The more you have unique India regulations here the less you have the opportunity to export, he added.

Toyota exports Etios series cars from India. In March, it exported 1,290 units. For 2014-15, the company exported 17,650 units from the country.

He said changing regulations in India make introducing new cars in the country difficult.

"India is always changing the regulations very quickly. On the other hand to introduce a new car it takes a lot of time, planning and development time. It takes around four years on an average, so the fluctuation in regulation makes a lot of problem in preparation," he said in reply to a question on company's plans to launch new models.