Corporate India greets election victories in Gujarat, HP
Complimenting the victory of Modi, who won for the third consecutive time, RC Bhargava, chairman of the country’s largest carmaker Maruti Suzuki said: “What we look for before investing is good governance, which is needed for any industry to work well. As long as that is met, along with good infrastructure, it is good for us.” Maruti has emerged as one of the biggest investors in Gujarat with plans to build a new plant there.
Suzuki Motor Corp chairman Osamu Suzuki had visited the state in September to inspect the land and had signed an agreement with the state government. This is the company’s first plant outside Haryana.
Maruti has committed investments of Rs 8,000 crore to build a 1,100-acre mega-factory in Mehsana district to produce 1.5 million cars per year at peak output by 2018-19. Production is expected to start by 2016. With a focus on exports, this plant is expected to become parent Suzuki’s global small car hub.
Adi Godrej, chairman of the Godrej group and president, Confederation of Indian Industry, while complimenting the BJP and Modi said: “The stability in the state will enhance the confidence of the industry and herald new investments.” He
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