SIAM appeals for more help to tide over gloom

NEW DELHI: Making an impassioned plea for help, apex auto industry body, Society of Indian Automobile Manufacturers (SIAM), has said over Rs 1,20,000-crore investment could be at risk, putting millions of jobs at stake if the government support is not forthcoming.
Although the auto industry has partially benefited from the government�s stimulus packages, SIAM director-general Dilip Chenoy said that over 65% problems faced by industry remained unresolved, especially issues like lower interest rates for vehicle financing and repossession by financial institutions on loan defaults.
Source : Economic Times (2/1/2009)