Maruti Suzuki to Continue Aggressive Investment in Automobile Industry in India

Suzuki Motor Corporation will proceed to make investments aggressively to develop the auto trade in India, a senior firm official stated on Thursday.

“We will proceed to make investments aggressively to develop the trade and make individuals joyful in India and repeatedly 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.

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“This could never have happened without the continuous support from the government of India,” Ayukawa, who beforehand headed Maruti Suzuki India, said.

He famous that India is now the third-largest car market which is anticipated to develop in the long run.

“The car trade requires long-term, giant scale capital funding. In this regard, the constant assist by the federal government to the manufacturing sector may be very essential, additionally together with the PLI scheme is extremely appreciative,” Ayukawa stated.

Suzuki Motor Corporation has around 56 percent 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.

(This story has not been edited by News18 employees and is revealed from a syndicated information company feed)