Domino effect of auto crisis: Livelihoods, India's GDP growth may take hit

35 million jobs at stake with India's automobile sector in trouble, components business could be impacted as well

The dismal April automobile sales figures released by the Society of Indian Automobile Manufacturers (SIAM) portends doom for the entire ecosystem of vehicle production in India and could well be a yoke around the neck of the new government in India. SIAM says the production of vehicles in India declined 10.69 per cent in the first month of 2019-20 to 2.4 million vehicles, year-on-year. There has been a decline across all segments – car sales have dipped 20 per cent, two-wheelers, which comprise the bulk of vehicle sales in India, fell 16 per cent and commercial vehicle sales were down