Maruti Suzuki wants to invest Rs 18,000 crore in a new Haryana plant, according to a report

R C Bhargava, the company’s chairman, told the ‘Times of India’ that Maruti Suzuki plans to invest up to Rs 18,000 crore in a new factory in Haryana to produce a peak million units annually, adding that the company had “sorted out” concerns about the state’s policy of reserving jobs in the private sector.

The projected plant, which would replace the company’s first manufacturing in Gurugram, might be expanded out over 700-1,000 acres. The coronavirus epidemic had caused the new factory’s construction to be postponed. “We intend to invest between Rs 17,000 and Rs 18,000 crore. We are planning a total capacity of between 7.5 lakh and 10 lakh automobiles per year. We’re looking at this scale,” Bhargava said, adding that the company “would like to transfer soon” to the new facility.

Bhargava told the New York Times Haryana’s policy of reserving 75% of employment, announced last year, was “an extra difficulty to resolve.””It is a source of concern for us. We’re talking to them and encouraging the state administration to come up with a solution that will satisfy everyone.”

In March 2020, the Confederation of Indian Industry (CII) requested that Haryana review the policy that went into effect legally last year. In 2019, the Haryana State Employment of Local Candidates Bill was passed, requiring 75 percent reservation for locals in private sector positions paying less than Rs 50,000 per month. This rule is in effect for ten years and is intended to address.

Latest articles

Debt Recovery Ecosystem in India, Impact of Phygital Debt Collection, and the Way Forward: Mobicule Technologies’ Siddharth Agarwal

In the past few years, India has observed a massive transformation across industries owing to digitisation, new communication channels, and stringent regulatory...

HMD Global Launches Nokia C32: Fashionable Design, Powerful Imaging, and Android 13!

HMD Global, the leading manufacturer of Nokia phones, has announced the launch of the Nokia C32, the latest addition to the popular...

Indian govt likely to reopen semiconductor application worth $10 billion to attract global chip companies

A day after India's IT Minister Ashwini Vaishnaw interacted with the leadership team of  Semiconductor Equipment and Materials International (SEMI), which is the...

Gautam Adani Climbs to Top 20 on Billionaires List with a Net Worth of $64.2 Billion

Indian business tycoon Gautam Adani, chairman of the Adani Group, has achieved a significant milestone by reentering the top 20 on the...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here