Suzuki strengthens ties with India through new subsidiary, fund

MANILA: Suzuki Motor Corporation has established a subsidiary and a fund in India, in its bid to strengthen ties with the country.

Per the Japanese automaker, its newly formed wholly-owned company is called Next Bharat Ventures IFSC Private Limited whereas its foundation is named Next Bharat Venture Fund-1.

The former is headquartered in Gujarat’s Special Financial Zone GIFT (Gujarat International Finance Tec) City. It is represented by Vipul Nath Jindal and has a capital of INR (Indian rupees) 1 billion (around P701.025 million).

On the other hand, Next Bharat Venture Fund-1 has a total investment of about US $40 million (approximately P2.34 billion). The funds are managed by Next Bharat Ventures IFSC Private Limited.

According to Suzuki, Next Bharat Ventures IFSC Private Limited will support and invest in social entrepreneurs working in the fields of agriculture, financial inclusion, supply chain, and mobility through Next Bharat Venture Fund-1.

The aim — Suzuki pointed out — is to solve social issues in India through business.

“There are about 1.4 billion people in India, but we have only reached about 0.4 billion people. Next Bharat will focus on nurturing and empowering social entrepreneurs, who are passionately solving the problems of India. Through this, we will connect with the ‘Next Billion’ people of India, extending beyond mobility and becoming a part of India’s future story,” Suzuki President Toshihiro Suzuki said.

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