The coming decades belong to India: Maruti Suzuki India

India set to become global economic powerhouse, says Maruti Suzuki MD.

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India is poised to emerge as the next global economic powerhouse, driven by indigenous manufacturing, innovation, and a resilient supply chain, said Hisashi Takeuchi, Managing Director (MD) and Chief Executive Officer (CEO) of Maruti Suzuki India, at the 65th Annual Convention of the Automotive Component Manufacturers Association (ACMA).“The last three decades have belonged to China, as it became the factory of the world. Now, the coming decades belong to India,” Takeuchi said, adding that every era sees a new nation rise on the back of resilience and innovation.Drawing from Japan’s experience, he noted that global leadership across sectors is best achieved through collective strength rather than individual triumphs. “Instead of celebrating individual heroism, Japan created harmony by celebrating collective effort,” he remarked.With the world’s largest working-age population, Takeuchi said India has the potential to become a developed nation in the next two decades. He credited the government’s policy support through initiatives such as the Production Linked Incentive (PLI) scheme, Make in India, and Aatmanirbhar Bharat for accelerating growth. “To succeed globally, Indian organisations must adopt a bold strategic intent, setting ambitious visions beyond current resources,” he said.He urged auto companies to assess their position in the global supply chain and chart a clear path from being trading partners to becoming global leaders.

Suzuki’s India focus

Takeuchi underlined Suzuki Motor Corporation’s long-term commitment to India, noting that the company has chosen the country as the production hub for its first global electric vehicle, the e-Vitara. “Other than materials not available in India, everything is locally produced,” he said, adding that the model will be exported to more than 100 countries. Suzuki has also begun production of electrodes for hybrid batteries in India.

On the export front, he acknowledged challenges in the auto component industry, which currently contributes around 30 per cent of its exports to the US but faces tariffs of 25 to 50 per cent. He said such disruptions also present an opportunity for India to position itself as a trusted, resilient, and sustainable manufacturing hub.

India is the third largest automobile market in the world and auto component exports crossed $23 billion in FY25. Takeuchi anticipates that this number could be more than double by 2030.

In view of tariff assault by the US administration, Takeuchi emphasised the importance of diversification, warning against over-dependence on a single market. He also pointed to the role of government diplomacy in resolving trade challenges.He also stressed the need for continued investments in R&D, building global-scale companies, and recognising people as partners in progress. “If we combine strategic intent with India’s unique advantages of domestic demand, talent, and policy support, the possibilities for growth are limitless. India will be more than just Aatmanirbhar,” he said.