India's Jamna Auto Industries Ltd, a maker of springs used in vehicle suspensions, said on Thursday it might shut all its plants in August due to weak demand from its customers, underscoring the extent of a slowdown in the auto sector.
The company, one of India's largest makers of tapered leaf springs and parabolic springs for automobiles, joins a growing list of auto components manufacturers, including Bosch Ltd and Wabco India Ltd, that have trimmed production amid a demand slump.
India's auto sector is facing a downturn, which industry executives say is the worst suffered by the industry, triggering massive job cuts