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Automobile component makers in India are treading with caution on expansion and investment. Thanks to the sluggishness in vehicle sales, the coming elections and transition to Bharat Stage VI emission norms, set to create demand uncertainty.
Nirmal Minda, chairman at Minda Industries, said his company was taking a “month-on-month call,” not deferring it for six months to a year in one go. “The situation is very volatile and one has to be careful. It is important to tighten the belts,” he said. Others spoke similarly.
Domestic passenger vehicle sales dropped marginally in December, even as car sales declined two per cent. The
