Suzuki has set up a $40 million fund in India to invest in small businesses in rural areas, as the Japanese automaker aims to strengthen its position in one of the world’s fastest-growing markets.
Through the fund, called Next Bharat Venture, Suzuki will invest in startups focused on agriculture and microfinance, the company said on Thursday, and will also provide training to rural entrepreneurs.
Suzuki, through Maruti Suzuki India, may be the country’s largest carmaker with a market share of 41.6%, but the company risks losing customers due to its limited hybrid car offering and lack of electrified options.
