Hisashi Takeuchi, Managing Director and CEO of Maruti Suzuki, has called for India to establish itself as a leading center for high-quality, affordable mobility components. He emphasized the need for the country to not only meet but surpass global standards in this sector.
According to Takeuchi, Indian suppliers have developed a strong understanding of traditional manufacturing processes. The next step, he said, is to leverage this expertise to embrace new technologies. The focus should be on delivering solutions that are both cost-effective and of the highest quality.
“By integrating our technological capabilities with a steadfast commitment to innovation and quality, we can effectively meet the demand from major global markets,” Takeuchi remarked.
In light of recent global disruptions and shifting geopolitical dynamics, automakers worldwide are seeking alternative cost-effective sourcing options. India is increasingly being viewed as a viable alternative to China for many global companies. Despite the auto component industry exporting $20 billion worth of components last year, this figure remains relatively small on the global scale.
“India is becoming a prominent player in the global auto component market, with over 25% of its production being exported annually. However, this accounts for less than 2% of the total global auto industry trade, highlighting a significant opportunity for growth. The global market is watching us, and the actions we take now will shape the future of our industry for years to come,” Takeuchi stated.
To help the industry achieve this goal, Takeuchi proposed five key strategies: providing technologically advanced features at affordable prices, supporting local semiconductor manufacturing, embracing digitalization and automation, training the workforce for emerging technologies, and competing on a global scale.
“We have the talent, resources, and a forward-thinking government to build a self-reliant, globally competitive automotive sector. It is now up to us to seize this opportunity and lead the future of mobility, not only for India but for the world,” Takeuchi concluded.
