Suzuki Motor will make strong investments to expand the Indian vehicle industry

12 May 2023 , 08:37 AM

According to ET report, Suzuki Motor Corporation would keep making aggressive investments to support the expansion of the vehicle sector in India. Suzuki Motor Corporation Executive VP Kenichi Ayukawa stated to ET, ‘We will continue to make investments aggressively to grow the industry, make people happy in India, and continuously contribute to Atmanirbhar Bharat.’

Ayukawa said Maruti Suzuki India announced a one million unit increase in yearly production capacity in a tweet published by the Finance Ministry.

Former Maruti Suzuki India CEO Ayukawa said, ‘This could never have happened without the continuous support from the government of India.’

He mentioned that India is already the world’s third-largest vehicle market and will likely continue to grow.

‘Long-term, significant capital investment is necessary for the vehicle sector. In this context, the government’s ongoing assistance to the industrial sector, which includes the PLI program, is extremely significant and appreciated, according to Ayukawa.

The Suzuki Motor Corporation owns about 56% of Maruti Suzuki India. Ajay Singh, managing executive officer of Mitsui OSK Lines Ltd., stated that the company’s subsidiary has spent Rs 3,500 crore over the past year following his conversation with the Finance Minister.

According to Kazuya Nakajo, executive vice-president of the Japan External Trade Organisation who talked to ET, India’s investment in the expansion of its logistical infrastructure is inevitable.

Speaking to investors, India’s Finance Minister Nirmala Sitharaman stated that the country is committed to developing and growing the logistics and infrastructure sectors during her two-day visit to Japan for the G-7 summit.

He added that India has won the game as a destination for investment, but the next challenge is figuring out how to make investment easier.

Yoshihiro Mineno, in head of Daikin Global Business, said the business intends to expand manufacturing to turn India into a centre for manufacturing.

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