Auto Industry Crisis: Worst in 19 Years
The Indian automotive industry is currently facing its worst slowdown in decades. With major companies witnessing the sharpest decline in automobile sales, a major economic disruption has been triggered in every arm of the automotive industry, be it vehicle production, component manufacturing, dealerships or other ancillary industries. As a result of the slump, according to the estimates, around one million jobs are currently at stake. To account for the crisis, the reasons that are given by the industry experts vary from increased rates of GST on the auto components to Modi government’s push for the transition from BS IV to BS VI emission norms in a haphazard manner.
NewsClick presents a ground report from Gurugram-Manesar auto belt, one of India’s major auto hub which boasts of housing factories of Maruti, Honda and Hero among others. We spoke to trade union leaders and workers to record their understanding of the ongoing crisis.
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