Suzuki Motor Corporation has expressed its commitment to making aggressive investments to drive the growth of the automobile industry in India. Kenichi Ayukawa, Executive VP of Suzuki Motor Corporation, emphasized their dedication to expanding the industry, bringing happiness to people in India, and contributing to the vision of Atmanirbhar Bharat (self-reliant India).
Ayukawa, who previously led Maruti Suzuki India, acknowledged the vital role played by the Indian government in supporting the automotive sector. He credited the government’s continuous support and highlighted the recent announcement by Maruti Suzuki India to increase its annual production capacity by one million units. Ayukawa also recognized India’s position as the third-largest automobile market, with further growth expected in the future.
The automotive industry requires substantial long-term investments, and Ayukawa praised the government’s consistent support to the manufacturing sector, including initiatives like the Production-Linked Incentive (PLI) scheme. Suzuki Motor Corporation holds a majority stake of around 56 percent in Maruti Suzuki India.
During a meeting with the Finance Minister, Ajay Singh, the managing executive officer of Mitsui OSK Lines Ltd, shared that the company’s subsidiary had invested INR 3,500 crore in the past year. Kazuya Nakajo, Executive Vice-President of the Japan External Trade Organization, expressed the inevitability of India’s investment in expanding its logistic infrastructure.
Finance Minister Nirmala Sitharaman, attending the G-7 meeting in Japan, reiterated India’s commitment to building and expanding the logistics and infrastructure sector. She acknowledged India’s success as an investment destination but stressed the need to further facilitate investments. Yoshihiro Mineno, in charge of Daikin Global Business, revealed the company’s plans to scale up manufacturing operations and establish India as a manufacturing hub.
The statements from industry leaders reflect a positive outlook on India’s automotive sector and underline the importance of continued investments and government support to foster its growth.