NEW DELHI: As automobile manufacturers and their component suppliers had to shut production indefinitely due to the covid-19 pandemic and are staring at huge losses, the government should announce a bailout package for the sector to tide over the current crisis, Neeraj Kanwar, vice chairman and managing director, Apollo Tyres Ltd.
In an interview to Mint, Kanwar said India could be in an advantageous position to attract investments post the crisis, provided there is improvement in ease of doing business and infrastructure.
He also said Apollo Tyres’ promoters would not sell any further stake to reduce debt. Edited excerpts: What do you make of the recent steps taken by the Reserve Bank of India and the union government to combat the covid