Hisashi Takeuchi, Managing Director and CEO of Maruti Suzuki India, declared that the next several decades will see India emerge as a global economic powerhouse and a leading manufacturing hub. Speaking at the annual convention of the Automotive Component Manufacturers Association of India (ACMA), Takeuchi highlighted India’s unique opportunity to capitalize on global geopolitical and economic turbulence to establish itself as a trusted, resilient, and sustainable manufacturing leader.

Takeuchi drew historical parallels, noting that nations like the United States, Europe, Japan, and the Asian Tigers (Hong Kong, Singapore, South Korea, and Taiwan) each had their era of economic dominance. “The last three decades belonged to China as the factory of the world. Now, the next many decades belong to India,” he asserted, citing India’s strengths, including the world’s largest working-age population, a rapidly growing $4 trillion economy, proactive government policies, and the innovative spirit of its people.

He praised the Indian government’s initiatives, such as corporate tax reductions, the Production Linked Incentive (PLI) scheme, and the Make in India program, drawing comparisons to Japan’s post-World War II government support for its industries. Takeuchi also noted recent measures, including direct and indirect tax reductions and accelerated interest rate cuts, as evidence of the government’s commitment to boosting domestic demand and the manufacturing sector. “As India aspires to be a global manufacturing hub, it will be critical to continue demonstrating policy stability and predictability,” he emphasized.

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Takeuchi acknowledged global challenges, such as supply chain disruptions from events like the COVID-19 pandemic and the Suez Canal blockage, as well as trade tensions, including U.S. tariffs of 25% to 50% on nearly 30% of India’s auto component exports. However, he expressed optimism, citing positive dialogues between India and the U.S. and the Indian government’s sensitivity to the issue as potential pathways to resolution.

Highlighting the automotive sector’s potential, Takeuchi noted that India is already the world’s third-largest automobile market, with auto component exports reaching $523 billion in the 2024-25 financial year, projected to more than double by 2030. He cited Suzuki Motor Corporation’s decision to make India the production hub for its first global electric vehicle, the e VITARA, for export to over 100 countries, as evidence of India’s growing global influence.

Takeuchi stressed the importance of diversifying markets to avoid over-dependence on a single region, stating, “This is our chance to make India not just a participant, but a leader in the global automobile supply chain.” He underscored India’s unique advantages—robust domestic demand, a skilled workforce, and supportive policies—as key drivers of limitless growth potential.

Concluding with a vision for India’s future, Takeuchi affirmed, “India will be the world’s trusted partner in the automotive supply chain, driving towards the vision of a Viksit Bharat.” His remarks signal a strong belief in India’s capacity to redefine its role in global manufacturing, leveraging strategic intent and resilience to seize emerging opportunities.

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