News: 25-30 lakh jobs lost in automotive sector in last 2 years

Strategic HR

25-30 lakh jobs lost in automotive sector in last 2 years

India's automotive industry has lost about 25-30 lakh jobs in the last two years due to reduction in growth rate and slowdown in commercial vehicles, Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar today said. "...this industry currently employs or was employing about 29 million people beginning from the iron-ore mines to the dealerships and in the last two years with the kind of reduction in growth rate and slowing down of commercial vehicles etc, we have lost-we estimate at least 10 per cent of jobs across the industry," Kirloskar said. Speaking at the 37th Annual General Meeting (AGM) of the Bangalore Chamber of Industry and Commerce, he said: "it could be more (than 10 per cent)...we have lost more than 25-30 lakh jobs across the industry." "It is a serious issue as far as economic growth is concerned," he added.

India's automotive industry has lost about 25-30 lakh jobs in the last two years due to reduction in growth rate and slowdown in commercial vehicles, Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar today said. "...this industry currently employs or was employing about 29 million people beginning from the iron-ore mines to the dealerships and in the last two years with the kind of reduction in growth rate and slowing down of commercial vehicles etc, we have lost-we estimate at least 10 per cent of jobs across the industry," Kirloskar said. Speaking at the 37th Annual General Meeting (AGM) of the Bangalore Chamber of Industry and Commerce, he said: "it could be more (than 10 per cent)...we have lost more than 25-30 lakh jobs across the industry." "It is a serious issue as far as economic growth is concerned," he added.

Read the Economic Times news report here.

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Topics: Strategic HR, #Jobs, #National

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