PM Modi Meets Suzuki Advisor Osamu Suzuki, Discuss Investment, Innovation For India
- Prime Minister Narendra Modi is in Japan on a two-day visit.
- He met with Osamu Suzuki to discuss opportunities in investment for India
- PM Modi also appreciated the transformational role of Suzuki in India.
Indian Prime Minister Narendra Modi is in Japan on a two-day visit to attend a summit of the Quad leaders and met Suzuki Motor Corporation Advisor Osamu Suzuki to discuss opportunities in investment, innovation, manufacturing of electric vehicles, and recycling centres in India. PM Modi also recalled Suzuki's association and contribution to India and appreciated the transformational role of Suzuki Motors in the automotive industry of India. Earlier this year, Suzuki had announced an investment of around Rs 10,445 crore by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and batteries in Gujarat.
Also Read: Maruti Suzuki Signs Agreement For Third Plant In Haryana
undefinedBrand Ambassador of ????????'s growth story
— Arindam Bagchi (@MEAIndia) May 23, 2022
In a meeting with Advisor @suzukicojp Osamu Suzuki, PM @narendramodi appreciated Suzuki's transformational role in ????????'s automotive industry.
Discussed opportunities for investment, innovation, manufacturing EVs,recycling centres in India. pic.twitter.com/7TCoy4mdVA
Also Read: Suzuki To Invest ₹ 104.4 Billion In India To Manufacture EVs, Batteries
The two also discussed strategies for building the local innovation system in India, including skill development through the Japan-India Institutes of Manufacturing (JIM) and Japanese Endowed Courses (JEC). Furthermore, Suzuki Motor Gujarat Pvt. Ltd. and Maruti Suzuki India Ltd. are also among the applicants approved under the Production Linked Incentives (PLI) scheme in the automobile and auto component sector.
Also Read: Ford, Suzuki To Get Incentives Under India's $3.5 Billion Clean Fuel Scheme
The former would invest Rs. 7,300 crore for the construction of a plant for BEV batteries on land neighbouring SMG's existing plant by 2026. Also, SMG will invest another Rs. 3,100 crore for increasing production capacity for BEV manufacturing by 2025.
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