Centre's measures will enable auto sector make turnaround: NITI Aayog Vice Chairman

NITI Aayog vice-chairman Rajiv Kumar on Monday said that various relief measures announced by the Central government would help the auto-sector make a turnaround.

"The Finance Minister has announced a package for auto-sector including accelerated depreciation and the permission to keep selling BS-IV vehicles. These measures should enable the auto sector to recover soon," Kumar told ANI on the sidelines of the India-China Economic Cooperation Forum (ICECF) here.

"ICECF brings together companies from India and China, which will compete together on the business front. It is now time for Chinese companies to invest and export from India to the US, Africa or even back to China," said Kumar.

"The potential for business between India and China is huge. It needs to be exploited. The leaders of both nations have encouraged us to tap this potential. That is why the need for such a platform was felt," he added.