Automobile Industry witnessed the steepest ever decline in the first Quarter (April – June 2020) of the Financial Year 2020-21, as vehicle sales plummeted by about 75% in this Quarter, compared to the previous year. This steep decline, came at the backdrop of one of the landmark achievements, wherein the Industry moved to BS VI Emission Norms from 1st April 2020, across all vehicle segments, bringing India at par with rest of the world, meeting one of the most stringent environmental regulations for vehicles.
Indian Auto Industry has always demonstrated extra ordinary resilience and is weathering this unprecedented storm with confidence that the on-going pandemic will wither out sooner than later, leading to early resumption of all-round economic activity, across the world. However, the dent that has already been created in the economy is likely to take some time to repair itself and therefore it becomes essential that all Stakeholders across the Value Chain need to come together and think towards ‘Re-building the Nation, Responsibly’.
In this context SIAM is organising its 60th SIAM Annual Convention on 4th September 2020 on a Virtual Platform from 10:00 - 13:30 hrs.