The company, which will have a new manufacturing plant in Gujarat where its parent Suzuki Motor Corp will invest, said Centre alone cannot realise the dream of the country becoming a global manufacturing hub and states would have to play an important role.

"2015-16 will see a high number of new model launches. Suzuki Japan and our engineers here have been jointly working on new model development, and the results are before all to see," Maruti Suzuki India (MSI) Chairman R C Bhargava said in his address to shareholders in the company's Annual Report for 2014-15.

The company has already launched its premium crossover model S-Cross this week, while a new premium compact car is also around this festive season. "Sometime in the future, we will launch a Compact SUV which will raise our presence in the UV segment by a quantum leap," MSI Managing Director and CEO Kenichi Ayukawa stated.

Although the details of the compact SUV hasn't been shared, the company said, "Soon, we will also introduce the Compact SUV, the concept of which was presented as XA-Alpha. This will help us cater to an emerging class of customers who prefer SUV appeal while staying compact."

Bhargava said, in 2014-15, after three years of stagnation, the company 'grew 11.1 percent (in sales), even though the rest of the passenger vehicle industry actually declined 1.3 percent".

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