New Delhi, 02 February 2009: Making an impassioned plea for help, apex auto industry body of the country, Society of Indian Automobile Manufacturers (SIAM), has said over Rs.1,20,000-crore investment could be at risk, putting millions of jobs at stake if the government support is not forthcoming.

According to SIAM Director General, Mr.Dilip Chenoy, although the auto industry has partially benefited from the government’s stimulus packages, over 65% problems faced by industry remained unresolved, especially issues like lower interest rates for vehicle financing and repossession by financial institutions on loan defaults.

Courtesy: PTI