New Delhi, August 4, 2024: Maruti Suzuki India Limited has launched its Annual Integrated Report for the fiscal year 2023-24, aptly titled “Together: Progressing through Shared Value Creation.”
Since its inception, Maruti Suzuki has adhered to a philosophy of collaborative growth, fostering shared value among its stakeholders. This approach has cemented the company’s leadership in the Indian automobile industry while significantly contributing to economic and social development. Given the extensive value chain in car manufacturing, Maruti Suzuki’s strategy has not only propelled its stakeholders to prosperity but also indirectly created millions of jobs and benefited various societal sectors. The company remains dedicated to partnering with India on its journey to becoming a developed nation (Viksit Bharat) by 2047.
Leadership Insights:
R. C. Bhargava, Chairman of Maruti Suzuki India Limited, emphasized the company’s longstanding alignment with national priorities and societal needs. “Our industry leadership is rooted in our commitment to enhance competitiveness while addressing economic and social needs. This dual focus benefits the company and society at large,” he stated.
Highlighting the company’s environmental objectives, Bhargava remarked, “Given India’s unique economic and social landscape, our strategy includes offering cars with diverse technologies at various price points. In the coming months, we will introduce electric cars. While their adoption grows, we encourage customers to consider vehicles with strong hybrid technology, CNG, ethanol, and biogas. Minimizing the use of pure petrol and diesel cars is crucial. Hybrid vehicles can enhance fuel efficiency by 35% to 45% and reduce carbon emissions by 25% to 35%. Additionally, India’s potential for biogas production from agricultural, animal, and human waste is significant. Biogas is renewable, import-free, and carbon-negative. We have initiated biogas production trials and look forward to supportive government policies to accelerate this development.”
Hisashi Takeuchi, Managing Director & CEO of Maruti Suzuki India Limited, underscored the company’s 40-year success story, driven by a commitment to societal inclusion and shared value creation. “Our journey has been marked by strong partnerships with our business associates, providing them with growth opportunities. This robust ecosystem fosters mutual success.”
He added, “We are proud of our role in creating employment, enhancing lives, and contributing to nation-building. Many of our practices align with the United Nations Sustainable Development Goals (SDGs) and government initiatives like Make in India, Skill India, Startup India, and PM Gati Shakti. Our growth journey will continue by embracing even more sections of society, including farmers, startups, youth, and MSMEs.”
As India rapidly progresses towards its goal of becoming a developed nation by 2047, Maruti Suzuki is poised to play a pivotal role in delivering the “joy of mobility” to a broader spectrum of Indians, making this vision a reality.
