According to the company, the move is a part of product strategy.
"This move is a part of Toyota's product strategy to continue to cater to the ever-evolving needs of the customer through enhanced technologies and product offerings," the company said in a statement.
"We would like to continue to serve such customers with other current offerings and preparations are underway to launch new Toyota models in the coming new year 2022."
Besides, Toyota said it will continue to cater to all Yaris customers' needs through dealer service outlets across the country.
Furthermore, automobile major said it will provide genuine spare parts for minimum of next 10 years on this discontinued model.
"In addition, over the last two decades, we have been harnessing our manufacturing capabilities to bring in world-class products to Indian consumers."
"As a part of this endeavor, we will continue to leverage our leadership and vast expertise in cleaner technologies to refresh our product portfolio to meet the evolving customer choices and enable a greener mobility."