Govt seeks suggestions from auto industry leaders for resource mop-up; sector demands financial package
The government of Thursday sought suggestions on methods of resource mobilisation from captains of the automobile industry, who raised several demands for a financial package to overcome the impact of the COVID-19-induced lockdown
Coronavirus Outbreak: Availability of components critical to restart manufacturing operations, say automakers
Major carmakers like Maruti Suzuki, Hyundai, Toyota and Honda have not yet resumed production at their factories stating that availability of components is a prerequisite to re-start operations at factories, which continue to remain inaccessible due to the nationwide lockdown
Coronavirus Outbreak: Piyush Goyal hears out industry reps, says FinMin will take 'balanced, nuanced approach' to issues
Union Minister Piyush Goyal on Thursday told trade and industry representatives that all their issues and feedback are being forwarded to the finance ministry, which he says will take a "balanced and nuanced approach" to their problems in view of coronavirus situation
Budget 2020: Auto component industry body seeks uniform 18% GST; demands fund to support R&D, indigenous technology development
The industry body also sought import duty exemption on auto component prototypes to encourage domestic R&D and testing.
Auto sector slowdown: Component maker Bosch likely to slash a few thousand jobs in India in next four years
Bosch may retrench about 10% of its 3,700-strong workforce in the administrative and management segments while it could be more than 10% of the 6,300 workers in the manufacturing level.
Anand Mahindra's tweet was a response to the auto firm's managing director Pawan Goenka's tweets on Sunday.
Auto sector slowdown: Anuragh Thakur heckled at ACMA event over fall in sales, says govt bids underway to save industry
Minister of State for Finance Anurag Thakur was heckled at an ACMA event on Friday after he asked auto industry players why sales had not picked up despite measures taken by government, RBI intervention and big discounts by manufacturers, to which a participant interjected and said it was because of the "demonetisation effect"
Maruti Suzuki asks auto component industry to produce electronics, key parts in India to cut imports
The country's largest carmaker Maruti Suzuki India on Friday asked the components makers to start manufacturing vehicle electronics and certain key parts in India in order to cut imports of such articles
Auto components industry on Friday sought uniform 18 percent GST in order to help companies with their working capital borrowings which could be used to invest in long-term assets
Market leader Maruti Suzuki India's production during the period stood at 5,32,979 units, down 18.06% from the comparable period last fiscal.
Auto industry leaders on Wednesday asked the government for a stimulus package, including GST reduction on vehicles, for the sector which has been hit by an unprecedented slump in sales
Economy shows signs of structural slowdown: Govt must work on urgent stimulus plan that Budget couldn’t deliver
There is no immediate respite seen for the economy till now. The signs of deeper trouble are flashing continuously indicating that the slowdown is turning structural in nature.
The industry body, which represents the auto components industry that alone employs around 50 lakh people, also sought clarity on policy for electrification of vehicles.
For eight months straight, auto sales have been slowing across products and verticals—both passenger and commercial
Auto component industry fears loss of 10 lakh jobs due to prolonged slowdown; seeks reduction in GST rate
Auto Component Manufacturers Association of India (ACMA) on Wednesday sought a reduction in GST rate to a uniform level of 18 percent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to the prolonged slowdown in vehicle sales
Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector
Automotive component industry body ACMA on Thursday asked the government to ensure a uniform GST rate of 18 percent on all auto components as part of measures to support the sector that is going through a downturn
Nitin Gadkari, who had in 2017 threatened to "bulldoze" the auto industry to adopt electric vehicles, struck a conciliatory note and said the government was not against petrol and diesel fuels
The Automotive Component Manufacturers Association (ACMA) also emphasised to keep auto components at 18 percent tax rate bracket in the upcoming GST
Gadkrai urged automakers to go for research and innovation and not to compromise on quality
In the last fiscal, the auto component industry's turnover grew by 8.8 percent to Rs 2.55 lakh crore as against Rs 2.34 lakh crore in 2014-15