Suzuki Motors To Invest in Gujarat

BANKING AND ECONOMY

● Recently, the ‘India-Japan Economic Forum’ was held in New Delhi between the Prime Ministers of India and Japan.
● During this meeting, a MoU was signed between the Suzuki Motors Corporation of Japan and the Gujarat state government to invest 150 billion yen (about Rs 10,440 crore) in the state.
● The investment has an objective to make India self-reliant in the production of electric vehicles in the country. 
● It will set up a vehicle recycling unit and an EV battery manufacturing plant in Gujarat by the year of 2025 and 2026 respectively.
● Maruti Suzuki Toyotsu India Pvt Ltd will invest Rs 45 crore in construction of vehicle recycling plant by 2025. 
 

Facts to know:
 

● Prime Minister of Japan: Mr. Fumio Kishida.
● Governor of Gujarat: Mr. Acharya Devvrat.
● The historic walled city of Ahmedabad is the first city in India to be inscribed in UNESCO's World Heritage City list of 2017.

Suzuki Motors Corporation of Japan
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