Suzuki Motor to invest aggressively to grow auto industry in India

A senior company official said on Thursday that Suzuki Motor Corporation will continue to invest aggressively in the development of the auto industry in India. "We will continue to invest aggressively to grow the industry and make people happy in India and will continuously contribute to Atmanirbar Bharat," said Kenichi Ayukawa, executive vice president of Suzuki Motor Corporation.

In a tweet shared by the Ministry of Finance, Ayukawa said Maruti Suzuki India announced an annual production capacity increase of 1 million units last month.

“This could not have happened without the continued support from the Indian government,” said Ayukawa, who previously headed Maruti Suzuki India.

He noted that India is now the third largest market for automobiles and is expected to expand in the future.

"The auto industry requires large-scale and long-term capital investment. In this regard, the continued government support for the manufacturing sector is very important, and the inclusion of the PLI plan is also greatly appreciated," said Ayukawa.

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Suzuki Motor Corporation owns about 56 percent of Maruti Suzuki India. After his interaction with the Finance Minister, Ajay Singh, Managing Director of Mitsui OSK Lines Ltd, said that the subsidiary had invested Rs 3,500 crore last year.

Executive Vice President of Japan External Trade Organization Kazuya Nakago said that India's investment in expanding logistics infrastructure is inevitable.

Finance Minister Nirmala Sitharaman, who is on a two-day visit to Japan for a G7 meeting, told investors that India is committed to building and expanding its logistics and infrastructure sector.

He added that as an investment destination, India has won the game, but the next task is how to facilitate investment.

Yoshihiro Menino, Daikin's global business chief, said the company plans to expand manufacturing to make India a manufacturing hub.

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