In 3 years, Maruti wants to export goods worth 20,000 crore

According to those familiar with its ambitions, Maruti Suzuki, which sells one out of every two passenger vehicles in India, aims to export half as many cars in the following three years. Suzuki Motor's Indian subsidiary wants to grow its exports, which made up just under 40% of India's exports in the most recent fiscal year. To do this, it hopes to take advantage of the global resources of the Japanese parent company and its alliance partner, Toyota Motor.

According to the experts, Suzuki and Toyota will increasingly turn to India as a key cause for both vehicles and parts, such as lithium-ion batteries for electric vehicles.
 
According to its filings with stock exchanges in accordance with a new law on related-party disclosures, Maruti Suzuki intends to export automobiles and materials worth up to $2.5 billion over the next three years.
 
Given an average price of Rs 5.5 lakh per vehicle and the Rs 20,000 crore export turnover approval limit for fiscal 2025, it is estimated that more over 350,000 units will be exported. According to the sources, that would be close to half of India's anticipated exports of passenger cars that year.
 
Rahul Bharti, the executive director, did not particularly address the figures but noted that exports had been rapidly increasing and that the business anticipated the trend to continue.
 
In fiscal 2022, Maruti Suzuki surpassed Hyundai Motor India to become the country's biggest exporter of passenger cars, supplying more than 238,000 of the country's total 570,000 exports. When it sold an average of 100,000 automobiles each year between FY16 and FY21, export revenue increased to Rs 12,000 crore, more than twice that figure.
 
According to an ETIG analysis, it plans to increase exports by 18% yearly over the next three years, which would be a quicker rate of growth than the 14% seen over the previous five years.
 
In FY22, the export market expanded 42%, and Maruti Suzuki's foreign volume increased by 147%. Following the Baleno and Swift hatchbacks in terms of export volume during the most recent fiscal year is the Dzire compact sedan.
 
Nearly 100 nations are receiving vehicles from Maruti Suzuki. The company's biggest export destination for the most recent fiscal year was South Africa, which was followed by Chile, Egypt, the Philippines, and Columbia. According to Bharti, the best practises it uses in India have worked effectively in other growing countries.
 
Maruti realised Rs 5.24 lakh per vehicle on export during the first quarter of FY23.With 69,437 units sent, the export value was the highest ever for a quarter at Rs 3,600 crore.

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