Lakhs go jobless as auto industry face crisis

The Indian auto industry is facing a massive crisis. Over 350,000 workers have already lost their job since April. Various factories and dealerships have been closed as well.

Amid the job crisis already looming large on the economy, job cuts in the automobile sector are creating further difficulties for the government.

In order to revive the industry, top executives are seeking tax rebates and easier financing options for users and dealers alike, from the finance ministry.

Temporary workers were the first to lose jobs and more cuts are expected as companies align production according to the demands.

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