Maruti Suzuki to invest to manufacture auto equipment locally.

Maruti Suzuki

Maruti Suzuki | The Indian automobile industry has been hugely successful in both the domestic market and exports. At this large scale, quality is of utmost importance.

Automobile production in India is increasing manifold. The auto parts industry in particular is currently focusing on localization, improving manufacturing quality and investing in emerging technologies for sustainable growth. In this case, Maruti Suzuki Executive Chairman Kenichi Ayukawa said in a meeting held on Wednesday that more attention should be paid to these segments.

Speaking at ACMA’s (Automotive Component Manufacturers Association) 62nd annual session, Ayukawa is also the president of automobile industry body SIAM. He spoke about the extent to which localization is necessary to ensure the growth of the auto parts industry. “We need to go much deeper and find ways to localize smaller components, including raw material,” he added. He also asked the industry to focus on developing and sustaining high standards.

He also shared some ideas. It said, “The Indian automobile industry has been a huge success in both the domestic market and exports. At this large scale, quality is of utmost importance. “Any small mistake can harm not only the industry but also the ‘Make in India’ brand,” he noted. Investing in new futuristic technologies is another area for the auto parts industry to consider, Ayukawa said.

“The Prime Minister has committed to a target of bringing carbon emissions to 0% by 2070 and a 45 per cent reduction by 2030. In our de-carbonisation journey to achieve these targets, the industry must leverage all possible future technologies,” he added. He asked the industry to continue investing in core businesses.

“This is what we always tell our supplier partners at Maruti Suzuki. It is very important to reinvest in the core business. It not only strengthens your finances but also improves your ability to deal with challenges,” he said. SIAM and ACMA should collaborate and make significant efforts to bring back and sustain the growth of the industry, Ayukawa said.
Speaking on the occasion, Sunjay Kapur, Chairman, ACMA, said that while sales of passenger and commercial vehicles have returned to pre-coronavirus levels, two-wheeler sales are expected to pick up again during the festive season. The Automotive Component Manufacturers Association of India (ACMA) represents more than 850 manufacturers. He also mentioned that the auto parts industry contributes more than 90 percent of the revenue in the organized sector. All these will help boost the Indian economy.

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