Indian Automobile Sector Crisis: Explained
From Current Affairs Notes for UPSC » Editorials & In-depths » This topic
Automobile sales in India saw a steep decline in July this year. The automobile sector is currently facing prolonged demand slowdown for the past 12 months. This had cost at least 15, 000 job losses within 2-3 months, during the period when India is facing an unemployment crisis and overall economic slowdown.
What is the issue?
- India’s automobile sector is currently facing a demand crisis.
- The domestic sales of all the vehicle categories had declined 19% year-on-year in July 2019.
- This is the steepest fall in almost 19 years.
- Th
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