Coronavirus Impact: SIAM expects support for the automotive industry
Rajan Wadhera, Society of Indian Automobile Manufacturers (SIAM), said plant closures of auto OEMs and components will lead to losses worth over Rs 2,300 crores in turnover for each day of closure.
PUNE: The Society of Indian Automobile Manufacturers (SIAM) has welcomed the decision of the Union Finance Minister of announcing a Financial Action Plan to support the medical warriors and the affected section of society to tackle COVID-19.
Sharing his views, SIAM President Rajan Wadhera said, “The announcement of Financial Action Plan amounting to Rs 1.7 lakh crore by the Finance Minister to support our medical warriors, daily wage earners, farmers, construction workers, self-help groups, women, etc. will certainly strengthen the faith of the vulnerable section of our society in the government and support them in dealing with the immediate concerns caused by COVID-19. We hope the government will also soon announce measures to support the automotive industry.”
He said plant closures of auto OEMs and components would lead to losses worth over Rs 2,300 crores in turnover for each day of closure.
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