Maruti Suzuki, the largest car manufacturer in India is hoping to get clearance for its Gujarat production facility from its shareholders. The decision for the plant which is being financed by the parent company Suzuki Motor Corp is likely to be put to vote in October 2014.
According to Mr. R C Bhargava Chairman of Maruti Suzuki India, the move to allow Suzuki finance the project is driven by the fact that Suzuki now considers India a strategic market and understands its importance in its vision as a global car maker.
Currently, Maruti Suzuki contributes about 40 percent of the total sales of the parent company and 25 percent of its profits as reported for the last fiscal 2013-14. Mr. Bhargava added that the new plant will be controlled completely by Maruti Suzuki with regard to production capacity.
