Summary:
Auto majors and component manufacturers are cutting production by double digits, and some are in the process of retrenching their contract employees. That target now seems unachievable, as the sector is seeking government intervention to boost demand and sales. Jobs AxedCentre of Indian Trade Unions (CITU) Tamil Nadu chapter president A Soundarrajan told Express that most auto majors and auto component manufacturers have retrenched trainees and contract employees. “Since production is down by 10 per cent, it is affecting auto component manufacturers,” says Datta. Datta says that automakers are seeking reduction in Goods and Services Tax from 28 per cent to 18 per cent..