It’s India story for next few decades: Maruti Suzuki MD

NEW DELHI: Next many decades belong to India as the global economic powerhouse, and it will be essential to continue demonstrating policy stability, as the country aspires to be the world’s manufacturing hub, Maruti Suzuki India MD and CEO Hisashi Takeuchi said on Friday.

Amid a turbulent global geopolitical and economic period, lies an extraordinary opportunity for India to position itself as a trusted, resilient, and sustainable manufacturing hub, he said while speaking at the annual convention of the Automotive Component Manufacturers Association of India (ACMA).

“When we look back at history, every few decades a new nation rises as an economic powerhouse,” he said, citing examples of how the US, Europe, Japan and Asian Tigers (Hong Kong, Singapore, South Korea, and Taiwan) have had their moments spanning from the early to the late 20th century.

“The last three decades have belonged to China, as it became the factory of the world. And now, the next many decades belong to India,” Takeuchi said. He cited India’s strengths, such as having the world’s largest working-age population, a rapidly growing $ 4 trillion economy, proactive government support and the “spirit of resilience and a deep sense of innovation” of Indians that stood in the country’s favour.

Drawing parallels with how the then Japanese government supported its industries in the post World War II era to help the country become an economic powerhouse, Takeuchi said, “In India too, I see similarity.

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