Maruti’s Gujarat unit to start in 2015-16
India’s largest car maker, Maruti Suzuki India Limited has invested around Rs 4000 crore into its new manufacturing plant located in North Gujarat. This unit is expected to start in 2015-16. This information was revealed by an official of MSI. The final decision will be taken at the firm’s board meeting scheduled during the end of the month.
The current financial year went very slow in terms of growth for the firm and this created a lot of confusion about the Gujarat plans of Maruti Suzuki India. Now, the company states that the Gujarat manufacturing plant of the firm will commence its operation by the mid of 2015-16. About Rs. 4000 crore has been invested in this plant and it would have the capacity to churn out 2.5 lakh units annually. It has been projected that the demand of cars in the country is near to 45 lakh by 2016-17 as compared to the earlier figures of 50 lakh units in 2015-16.
Maruti is aiming to a 40% share in the Indian car market by 2015-16. Also, the firm is in plans to raise its alliance with Industrial Training Institutes from 11 to 50, which will help fulfill the skilled manpower requirement of MSI. Out of these it is 4 or 5 could be set-up in Gujarat. Another thing that is affecting the demand of cars in India is the inequality between the prices of petrol and diesel. The auto experts suggest that in future there will a bit of equilibrium in the price of diesel and petrol. The less diesel price right now has made the waiting period take a toll. Maruti Suzuki India is expecting the interest rates to slow down this month, which is likely to refresh the sales of cars in India in 2013.