Slowdowns are the nurseries of capitalism, says Asha Ram Sihag

Sihag also took a swipe on the industry for calling it an unprecedented slowdown

Slowdowns are the nurseries of capitalism, said Asha Ram Sihag, secretary, Ministry of Heavy Industry and Public Enterprises, at the 59th Annual Convention of Auto Component Manufacturer Association (ACMA) on Friday, adding it was difficult to predict or get a handle on it.

Sihag rapped the captains of the automobile industry for not being pro-active or paying enough attention to inventory building up in factories. 

“The first sign of a slowdown comes from the inventory data. That is one of the most advanced indicators,” he said, adding he was happy to see the industry reflecting on it now. “This will