首页|Suzuki-Maruti under 50 percent export obligation
Suzuki-Maruti under 50 percent export obligation
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NSTL
SUZUKI Motor Corporation (SMC) and Maruti Udyog Ltd (MUL) will have to export 50 per cent of the output from their proposed joint venture aluminium foundry project, as per the directions of the Development Commissioner for Small-Scale Industries (DCSSI). This is because the foundry will be manufacturing items that are otherwise reserved for the SSI sector. Suzuki, in the last week of September, had applied to the Foreign Investment Promotion Board (FIPB) seeking permission to manufacture aluminium castings by way of setting up a joint venture company with Maruti. As per the plans, the joint venture company will have an authorised capital of 300 million rupees and a paid-up capital of 250 million rupees in which Suzuki will hold 51 per cent of the equity capital while Maruti will hold 49 per cent. The company, in its application filed with the Government, had conveyed that it would undertake the manufacturing of aluminium castings for various applications in India, including those required for the manufacture of two-wheelers.
NSTL
