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AutomobileNo slowdown in vehicle zone: CAIT

No slowdown in vehicle zone: CAIT

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Traders’ frame CAIT on Tuesday stated there is no slowdown inside the home vehicle quarter and the enterprise is making hue and cry handiest to get a bundle from the government.

The automobile enterprise has been attributing 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 newshounds right here.

Citing an example of recent car launches, he stated corporations have obtained a massive number of bookings, which do no longer replicate 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 on the spot movement from the government 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 now not take movement, we can technique the court docket,” he said.

He additionally said those e-commerce businesses are allowed to do 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 info of pinnacle 10 providers inside the final five years,” he stated.

He also stated interest costs are excessive in India and global firms get loans at reasonably-priced charges.

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