ACMA: INCESSANT WEAK DEMAND WILL LEAD TO HUGE JOB LOSSES

Highlights

• The auto component industry is in the list of five stressed sectors that includes aviation and hospitality

• In order to cope with the operating expenses and already incurred losses, companies will opt for job cuts said Deepak Jain, President of the ACMA

• The auto component industry will further shrink between 20 to 40 percent in this year predicted the auto industry body SIAM