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Rising costs threaten India's auto growth
New
Delhi,
8
Jan,
2008
:
According
to
the
findings
of
a
survey
released
on
January
8th,
by
a
consultancy
firm,
KMPG,
rising
production
costs
and
dilapidated
infrastructure
is
threatening
the
fast
growth
of
Indian
auto
industry.
Rising labour costs seem to be a cause of worry among the firms as a talent shortage drives up pay and staff turnover in an economy. India's automotive industry, which produces 1.5 million vehicles annually, is worth 34 billion dollars a year and contributes five percent of India's gross domestic product.
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Story first published: Thursday, January 10, 2008, 16:42 [IST]
