No slowdown in vehicle zone: CAIT

Traders’ frame CAIT on Tuesday stated there is no slowdown in the home vehicle quarter, and the enterprise is making hue and cry handiest to get a bundle from the government. The automobile enterprise has attributed the income downturn to several factors, including high GST (Goods and Services Tax) rates, farm distress, stagnant wages, and liquidity constraints. There is no slowdown inside the home car quarter. They are pronouncing this to get a package from the government,” Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal informed the newshounds right here. Citing an example of recent car launches, he stated corporations had obtained a massive number of bookings, which no longer reflect any slowdown in the quarter.

Online competition income

Talking about recent pageant income introduced via global e-commerce companies like Amazon and Flipkart, Khandelwal demanded the government’s spot movement to prohibit those mega sales. He claimed that such firms are violating foreign direct investment (FDI) norms in the e-commerce region. “If the authorities do not take action, we can technique the court docket” he said. He additionally said those e-commerce businesses are allowed to do the handiest B2B commercial enterprise. However, they may be indulging in massive commercial campaigns. “These organizations are not doing business; this is the commercial enterprise of valuation. They must deliver the info of the top 10 providers within the last five years,” he stated.

He also stated that interest costs are high in India, and global firms get loans at reasonably priced rates.

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