Suzuki plans to set up production units in Haryana
India:
On the
fourth day of the ‘Make in India’ week in Mumbai, Japanese carmaker Suzuki revealed its plans to set up production
plants in Haryana in coming years. Suzuki Motors has already announced an
investment of INR18,000 crores in Gujarat to set up multiple units with a total
production capacity of around 1.5 million units.
Currently, Suzuki Motor
Corporation’s new car manufacturing unit is being constructed in Hansalpur
village of Ahmedabad district in Gujarat, which is expected to be ready by
2017. The plant is coming up at an estimated investment of INR4,000 crores and
will have an initial capacity of 1,50,000 units per year.
Manohar Lal Khattar, the
Chief Minister of Haryana said, “We have spoken to the Suzuki chief executive
officer in Japan and has conveyed that the company is interested in setting up
another project in Haryana.” In March 2016, Haryana will host “Happening
Haryana Global Investors Summit” to allure investments in the state. He further
said, “All clearances and processes have been made time-bound and put under one
roof. We are working hard on improving the ease of doing business. In fact, we
have already exceeded our target of attracting INR1 lakh crore investments to
the state.”
The recent report published
by TechSci Research, “India
Tyre Market
Forecast and Opportunities, 2020” depicts that India is the seventh largest
vehicle producer in the world, with an average annual production of more than
20 million vehicles in 2014. Almost all major global automobile manufacturers
operate in India. This creates huge opportunity for tyre manufacturers in the
country.
As per TechSci Research, this
announcement by a major car manufacturer in the country will drive the demand
for OEM tyres and will strengthen Suzuki’s hold in the country’s automobile
market, as the brand already captures majority of the car market in India.