Suzuki to continue aggressive investment in India's auto industry

A senior official from Suzuki Motor Corporation stated that the company will continue to invest aggressively to expand the automobile industry in India. Executive VP Kenichi Ayukawa said, We will continue to make investments aggressively to grow the industry and make people happy in India and continuously contribute to Atmanirbhar Bharat. In a tweet from the Finance Ministry, Ayukawa announced that Maruti Suzuki India had increased its annual production capacity by one million units the previous month. This could never have happened without the continuous support from the government of India, Ayukawa, who previously headed Maruti Suzuki India, noted. He added that India is now the third-largest automobile market in the world and 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 holds approximately 56% stake in Maruti Suzuki India. After an interaction with the Finance Minister, Ajay Singh, managing executive officer, Mitsui OSK Lines Ltd, said that the company's subsidiary had invested Rs 3,500 crore in the last year. Executive Vice-President of the Japan External Trade Organisation, Kazuya Nakajo, said that India's investment in the expansion of 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, stated that India is committed to building and expanding the logistics and infrastructure sector. As an investment destination, India has won the game, but facilitating investment is the next task, she added. Yoshihiro Mineno, Daikin Global Business in-charge, said that the company plans to scale up manufacturing to make India a manufacturing hub. Also Read NMMC's road concretisation enhances infra in MIDC region Srinagar smart city projects inaugurated by Lt. Governor Sinha