VIDEO: India’s auto sector and budget expectations
India’s automobile sector may have been dented by negative sales for two straight years, but the Society of Indian Automobile Manufacturers (SIAM) is hoping to see an uptick in sales this fiscal year.
Spiralling inflation and expensive bank loans, which most Indians depend on to buy vehicles, weighed on customer sentiment as the country’s economic growth languished at 4.7 percent in the December-quarter — about half the rate of India’s boom years.
However, a stable and business-friendly BJP government is expected to revive economic growth and kick-start the investment cycle, factors that may help the market for vehicles grow.
Here’s an India Insight video that takes a look at the automobile industry and what stakeholders may expect from this year’s budget: