The Telegraph
Thursday , May 29 , 2014
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Meet to address auto woes

New Delhi, May 28: Anant Geete, who took over as heavy industry minister today, will meet auto industry representatives next week to work out strategies that will help combat the slowdown and weigh the need to continue the existing duty cuts.

According to sources, the newly appointed minister has already sent invitations to representatives of the industry, including the heads of major car companies.

“The meeting will take place next week. The minister will study the problems affecting the various sectors including the auto industry,” said a ministry official.

According to experts, the industry captains are likely to ask the government to maintain the existing excise duty rates and push for faster implementation of the goods and services tax. They will seek fleet modernisation of commercial vehicles.

“We have taken over office. The ministry has an important role to play. There is competition worldwide and it is unfortunate that we are lagging behind. We need to compete with the world now,” Geete said today.

He said reviving sick units was one of his priorities. “There are many sick public sector undertakings I have discussed with the Prime Minister. We will make efforts to revive the sick units.”

Siam officials had earlier said they would send a list of demands and reforms to the new government.