In view of slowdown in automobile sector, Engineering Export Promotion Council (EEPC) of India on Wednesday said it has sought faster refund of taxes and availability of steel at global prices.
Adding woes to domestic automobile manufacturers along with component vendors, their export markets have also remained depressed, the engineering export body said in a statement.
Commenting on the trends, EEPC India Chairman Ravi Sehgal said, "In a way, the auto makers face a double whammy. Exports too are laggards even as the fall in the domestic market is reported to be quite sharp.
"It is time to take immediate measures like faster refund of state and central taxes. Besides, steel availability at international prices would be crucial to make automobile exporters competitive."
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