Business / Corporate

Toyota, Suzuki chiefs talk business with Modi

Kyodo

Toyota Motor Corp. President Akio Toyoda and Suzuki Motor Corp. Chairman Osamu Suzuki met Thursday with Indian Prime Minister Narendra Modi for talks on their business operations in that country, local media reported.

After the meeting, the Indian prime minister’s office said in a statement that the two Japanese companies’ auto production “will promote ‘Make in India,’ and contribute to employment generation,” according to the reports.

The visit came after Toyota and Suzuki last month signed a memorandum of understanding about a possible business partnership in areas such as environmental, safety and information technologies.

“The partnership is expected to bring together Toyota’s global leadership in technology and manufacturing, with Suzuki’s strength in (the) manufacture of small cars, especially in India. It is expected to enable India to use new technological developments,” the statement said.

According to Japan External Trade Organization statistics, Suzuki’s India unit commanded the largest share of 46.5 percent in the Indian auto market in 2015. The Toyota group also saw its cars sell well.