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Industry body ACMA on Wednesday said around 1 million jobs could be on the line if the prolonged slowdown in the automobile industry continues, while seeking immediate government intervention such as slashing GST to stimulate demand.
The Automotive Component Manufacturers Association of India (ACMA), which represents the auto component industry that alone employs around 5 million people, sought a uniform GST of 18 per cent for the entire automobile sector in order to revive the vertical which has now witnessed 10 months of continuous decline in sales.
Terming the situation as "unprecedented", ACMA President Ram Venkataramani said vehicle sales in
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