REIMAGINE SWADESHI, pg10.

Key Highlights:

• Hyundai Motors increased its investment in its Talegaon, Maharashtra plant from ₹7,000 crore to ₹11,000 crore.
• Toyota Kirloskar is investing ₹20,000 crore in a greenfield manufacturing facility in Chhatrapati Sambhajinagar, Maharashtra.
• Maruti Suzuki sold over 19 lakh vehicles in India and exported 3.3 lakh units in 2024-25.
• Maruti Suzuki has started production of its first electric vehicle, e-Vitara, primarily for export from its Hansalpur, Gujarat facility.

Detailed Insights:

• The reduction in GST rate on small cars from 28% to 18% has encouraged investments in the auto sector.
• Companies are motivated to leverage India's domestic market and export potential due to reappearing tariff and non-tariff barriers.
• Improved infrastructure, such as the Samruddhi Mahamarg expressway, facilitates production and export activities.
• Prime Minister Modi's interpretation of Swadeshi emphasizes manufacturing in India, regardless of the company's origin.
• Success stories like Maruti Suzuki, Hyundai, Apple, and Samsung demonstrate the potential of Make in India initiative.
• Stable policies and schemes with clear sunset clauses are needed to attract large-scale investment in key sectors.

Key Concepts Involved:

• Swadeshi: Focus on domestic production and consumption, emphasizing local manufacturing.
• Make in India: Government initiative to encourage companies to manufacture their products in India.
• GST Rationalisation: Streamlining the Goods and Services Tax structure to reduce complexities and improve compliance.