Maruti Suzuki Chairman predicts rapid growth in Indian auto market

Maruti Suzuki India Chairman R.C. Bhargava stated that GST reforms have strengthened the Indian economy and boosted various sectors, including the automotive industry, despite global challenges such as conflicts in West Asia.

During the company’s annual general meeting, Bhargava projected that the Indian car market could grow to reach between 6.1 and 6.3 million units annually by 2031. He noted an expected rise in the market share of small cars following tax changes.

To meet rising demand, Maruti Suzuki is expanding its production capacity. The company aims to reach an installed capacity of 2.9 million units by the end of fiscal year 2026-27 and 3.65 million units by the end of 2030-31. Key expansion projects include the Kharkhoda plant in Haryana, the Hansalpur plant in Gujarat, and a new facility in Sanand, which involves a proposed investment of approximately 35,000 crore rupees.