Auto industry lost ₹2,300cr a day in lockdown: Parliamentary panel
The automotive industry suffered ₹2,300 crore loss per day during the COVID-19 lockdown, according to a parliamentary panel report submitted to Rajya Sabha Chairman M Venkaiah Naidu. The sector witnessed an estimated job loss of about 3.45 lakh, the report said. All major original equipment manufacturers (OEM) cut down their production by 18-20% due to low demand, it added.