Monday February 2, 2009
The Society of Indian Automobile Manufacturers (SIAM) has appealed to the Indian Government to provide relief to the automotive industry. If not supported, the auto industry stands to lose over Rs.1,20,000 crore of investment. Though the stimulus packages announced by the State have benefited the industry to an extent, 65 per cent of its problems still remain unresolved. Chief among these are lower interest rates for vehicle financing and repossession by financial institutions on loan defaults. The investment, if on track, will generate between 7.5 and 10 lakh jobs by the year 2011.
Soruce: DriveInside.com
The Society of Indian Automobile Manufacturers (SIAM) has appealed to the Indian Government to provide relief to the automotive industry. If not supported, the auto industry stands to lose over Rs.1,20,000 crore of investment. Though the stimulus packages announced by the State have benefited the industry to an extent, 65 per cent of its problems still remain unresolved. Chief among these are lower interest rates for vehicle financing and repossession by financial institutions on loan defaults. The investment, if on track, will generate between 7.5 and 10 lakh jobs by the year 2011.
Soruce: DriveInside.com
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