Suzuki launches $40 million Fund to nurture Agri & Microfinance Start-ups in Rural India

By Team Startupcity  |  Friday, 05 July 2024, 17:16 IST

Suzuki launches $40 million Fund to nurture Agri & Microfinance Start-ups in Rural India
Suzuki Engine Corp. has launched a $40 million Fund in India to put resources into small and rural start-up businesses as the Japanese automaker plans to work on its presence in one of the world's quickest developing business sectors. 
Through the Fund, called Next Bharat Venture, Suzuki will put resources into inventive start-ups connected with microfinance and agriculture, the organization informed, adding that it will likewise give training to country’s rural entrepreneurs. 
While Suzuki, by means of Maruti Suzuki India Ltd., is the country’s greatest automaker with a 41.6% piece of share in the market, it chances losing clients because of its pitiful line up of hybrid cars and absence of any electric options. 
The organization as of now approaches around 400 million people in India through its large number of show rooms and service centres focuses yet Suzuki trusts the fund will assist it with contacting a significantly more extensive crowd, Chief Vice President Naomi Ishii said. 
“Our concern was how to access the remaining 1 billion & contribute to them”. – Naomi added.
The move likewise comes as Suzuki is wandering into new regions, for example, biogas in India, with a plant beginning tasks in June. 
Suzuki trusts that the fund focusing on small & rural-based business people will assist with setting out business open doors among underserved regions, in this manner reinforcing its operations on its current customers. 
Suzuki, which mostly makes small, minimal gas combustion engine motor vehicles, has been in the car business in India beginning around 1982 however is confronting renewed competition from both local and international automakers with better hybrid and electric contributions.
 

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