MUMBAI : The domestic automotive industry will have adopt various measures - like low cost products, increased localisation and automation - to stabilise business in the post COVID-19 situation, according to a report.
In-plant stay of labour, enhanced health and safety practices and investment in digitisation, are some of the steps, the industry will need to follow once the lockdown is lifted, it added.
Nomura Research Institute (NRI) Consulting & Solutions India in its report also pitched for stimulus packages to catalyse the restart of the industry.
The automotive industry accounts for nearly 50 per cent in India's industrial GDP and is one of the biggest employers - both through direct and indirect employment.