I request you to re-invest profits into same business and do not invest your profits into making hotels, leisure, etc, says Osamu Suzuki
Reminding the Indian automotive components industry of the increased number of car recalls in recent times, Suzuki Motor Corporation chairman Osamu Suzuki on Thursday asked Indian auto part makers to maintain quality of components while working on Make in India.
“As you know, recall news is floating in the global markets, it is important to maintain quality and choose your vendors selectively,” Suzuki said, addressing the annual session of the Automotive Component Manufacturers Association of India.
“It is mentioned here Make in India. I would like to add quality in India to make in India,” he said. He said the Indian suppliers can become number one in component market ahead of players from the US and China if all suppliers follow stringent quality standards.
General Motors recently announced a recall of 1.55 lakh vehicles in India, its largest such exercise to date in the country, to fix wiring problems linked to a remote keyless entry accessory.
Suzuki also asked the component manufacturers to re-invest their profits into their primary business instead of diversifying into other sectors.
“I request you to re-invest profits into same business and do not invest your profits into making hotels, leisure, etc,” Suzuki said.
“That is going to be the key point in deciding whether you will become number one globally or not. I request you to re-invest in enriching your facilities, build more plants and extend your capacities,” he added.