Dr. Badri Narayanan and Sumathi Lalapet Chakravarthy
As India battles its worst pandemic crisis, there will be a huge toll on the economy and the automobile industry, in particular, will take a hit. The initial estimates are scary, but the recovery could be expected with some timely government intervention.
Highlights
Auto industry may face production loss of Rs. 1.23 lakh crores during shut down
A reduction of about Rs. 4600 crore in imported inputs by the auto industry is anticipated
Auto industry is hit from multiple fronts, including domestic and export demands, supply chain disruption.