As Tata Motors and Volkswagen confirmed they would discuss development cooperation in India, it emerged Toyota and Suzuki have discussed joint plans with a top Indian politician.
According to Bloomberg, the pair discussed their partnership and future technological developments with Indian prime minister Narendra Modi.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The two automakers recently announced an alliance.
Bloomberg said they would promote manufacturing in India, with the potential to export locally made, new technology vehicles.
The news outlet cited a statement on the prime minister's official website describing the meeting with Toyota president Akio Toyoda and Suzuki chairman Osamu Suzuki.
"The partnership is expected to bring together Toyota's global leadership in technology and manufacturing, with Suzuki's strength in manufacture of small cars, especially in India," the statement said. "It is expected to enable India to use new technological developments. Further, high volumes will enable local manufacture of components required for these technologies."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBloomberg noted India is encouraging investments under a 'Make in India' programme intended to cut through India's notorious red tape and spur local manufacturing by overseas companies.
Toyota market share remains well behind the 48% reached by Maruti Suzuki which has dominated the market with cheap cars like the Alto and Swift, the report added.
Suzuki recently opened a new plant in Gujarat state. It own this factory outright, rather than through the Maruti Suzuki subsidiary.
