Today at Automotive Component Manufactures Association Of India (ACMA) annual convention when Minister of Finance Anurag Thakur was addressing was interrupted by the member of audience and he said that demonetization was the main reason for automobile slowdown. Slowdown is the long term process and delayed effect of Demonetization. That man added that people don't have money to spend.
At this Mr. Thakur said," Thank You...If that is the delayed effect, how do you move from here? How do you move forward?" The minister further stated that govt. is trying to bring reforms and in the coming days result could be clearly visible. He urged the people there to remain positive as things will be better in the near future.
Speaking in the present scenario Mr. Rajan Wadhera SIAM President said," It is extremely difficult to predict sales plan inventories in such a way to have zero inventory in the end of March."