Maruti Suzuki CEO: India Ready for Global Manufacturing Role

India is already on the path to emerge the next manufacturing powerhouse in the world, and the stability of policies will be the gateway to this potential, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Friday.

In a speech at the yearly convention of Automobile Component Manufacturers Association of India, (ACMA), he has pointed out the distinct advantages of the country in the face of economic turbulence worldwide.

Takeuchi reported how the US, Europe, Japan and subsequently China gained economic dominance in the world and India is set to turn its time as well. India has the right ingredients in a 1.3 billion working-age population, a fast-growing economy of 4 trillion dollars, and an aggressive government policy with what he called a spirit of resilience and innovation.

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He likened the situation in India with that in post-war Japan, where the government supported initiatives to spur the industrial growth. The same is being established through reforms like lowered corporate taxes, Production Linked Incentive (PLI) plans, and Make in India. New tax cuts and interest rate initiatives, he said, will only stimulate domestic demand and boost manufacturing.

Even though some obstacles still exist, especially the US tariffs on almost all of the $523 billion of Indian auto parts exports, Takeuchi was optimistic that bilateral negotiations were progressing. He also cited the move by Suzuki to manufacture its first global EV, the e-VITARA, in India and export to more than 100 countries as evidence of the emerging global status of the nation.