Auto sector slowdown: Anand Mahindra calls for short-term booster dose

I believe the government's measures to push the auto industry towards change are sincere and far-sighted, Mahindra said

The auto sector, which is facing one of its worst and most-prolonged slowdowns since 2001, is awaiting a short-term stimulus like reduction in goods and services tax (GST) for revival. 

Otherwise, the industry is unlikely to see a demand uptick, leading to job losses.  

Speaking to shareholders at the company’s 73rd annual general meeting (AGM), chairman of the Mahindra Group Anand Mahindra said, “We need short-term measures to catalyse consumption. I believe the government’s measures to push the auto industry towards change are sincere and far sighted. I can well understand the government’s hesitancy in looking at GST concessions.”

Citing auto industry body