SIAM moots labour reforms, fears further rate hike will hurt industry

Our Bureau Updated - September 02, 2011 at 07:08 PM.

The Society of Indian Automobile Manufacturers suggested that there should be more flexibility in labour recruitment in the auto industry. It said it is seeking a consensus on labour reforms.

At a meet to announce it 51st Annual Convention, which will be held on September 7, 2011, Mr Vishnu Mathur, Director General, SIAM said, “Following the labour unrest at Maruti plant, we are anticipating further dip in the market. August has not been a good month but with the coming festive season, we anticipate a revival.”

On the anticipated rate hike, Mr. Mathur said, “Any further rate hike will hurt the industry without doubt. Already there is lack of investment and sentiments are down. ”

SIAM had proposed a National Mission for Hybrid and Electric Vehicles, which received a nod from the Government in Budget 2011-12. The industry body is currently doing a feasibility study for the project.

Published on September 2, 2011 13:38