Suzuki Motor to invest aggressively to grow auto industry in India

Suzuki Motor Corporation will continue to invest aggressively to grow the automobile industry in India, a senior company official said on Thursday.

"We will continue to make investments aggressively to grow the industry and make people happy in India and continuously contribute to Atmanirbhar Bharat," Suzuki Motor Corporation Executive VP Kenichi Ayukawa said.

In a tweet shared by the Finance Ministry, Ayukawa said Maruti Suzuki India has announced an increase in annual production capacity by one million units last month.

"This could never have happened without the continuous support from the government of India," Ayukawa, who previously headed Maruti Suzuki India, stated.

 

He noted that India is now the third-largest automobile market which is expected to expand in the future.

"The automobile industry requires long-term, large scale capital investment. In this regard, the consistent support by the government to the manufacturing sector is very very important, also including the PLI scheme is highly appreciative," Ayukawa said.

Suzuki Motor Corporation has around 56 per cent stake in Maruti Suzuki India. After his interaction with the Finance Minister, Ajay Singh, managing executive officer, Mitsui OSK Lines Ltd, said the company's subsidiary has invested Rs 3,500 crore in the last one year.

Japan External Trade Organisation executive vice-president Kazuya Nakajo said, India's investment in expansion in logistic infrastructure is inevitable.

Finance Minister Nirmala Sitharaman, who is on a two-day visit to Japan to attend the G-7 meeting, while addressing investors said that India is committed towards building and expanding the logistics and infrastructure sector.

As an investment destination India has won the game but how to facilitate investment is the next task, he added.

Daikin Global Business in-charge Yoshihiro Mineno said the company plans to scale up manufacturing to make India a manufacturing hub.