Auto industry body SIAM Friday expressed hope that the new government would take initiatives to revive growth in all consumer goods, including automobiles.
"With the new government in place, I am hopeful that India will soon be on the path of economic growth, leading to revival of the demand cycle for all consumer goods including automobiles," Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera said in a statement.
SIAM expects the government to accord priority industry status to the auto industry, he added.
Echoing similar sentiments, SIAM Director General Vishnu Mathur said: "As of now, the industry is going through a difficult period with a slowdown in demand across all segments. We hope that initiatives by the new government will help revive the demand."
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