Heavy Industries and Public Enterprises Minsiter Praful Patel on Wednesday said he would take a delegation of the automobile industry to Prime Minister Manmohan Singh and Finance Minister P Chidambaram to discuss the possibility of a stimulus for the auto sector.
“There is genuinely a case for stimulus for the auto sector”, Patel said adding auto sales have dropped in the recent months.
“I am in constant touch with the Government... Also in the days, I am going to arrange a meeting of the entire auto sector - Society of Indian Automobile Manufacturers (SIAM) and other stakeholders - with the the Prime Minister and the Finance Minister so that the industry is able to express its concerns and I am sure we will find a way forward,” he said. This slowdown also leads to loss of jobs rather than creating jobs, he added. He was talking to reporters on the sidelines of the annual convention of SIAM.