The ongoing outbreak of the COVID-19 pandemic has hit the Indian automobile industry hard, like other industries, in the face of the complete lockdown since March 24, 2020. Now, Prime Minister Narendra Modi on April 14, 2020 announced that the lockdown will be extended till at least May 3, 2020 to control the spread of the coronavirus in India and said that restrictions could be reviewed for the least affected parts of the country on April 20. Hero MotoCorp, India's largest two-wheeler manufacturer, has reacted to the Prime Minister's move to extend the lockdown, but also expressed hope that the government will introduce a stimulus package to Corporate India to boost the economy, which is reeling under the effects of the global COVID-19 outbreak and subsequent lockdown.
Also Read: Hero MotoCorp Donates 60 Mobile Ambulances Across India
"I support the honorable Prime Minister's move to extend the lockdown till May 3rd, with the topmost priority being the safety and wellbeing of the citizens of our country. The decision to allow graded relaxation and partial opening of certain areas from April 21st that show improvement is also welcome. While continuing to play its role in supporting the government through various means and measures, Corporate India looks forward to a suitable stimulus package from the government that will give a boost to our economy. At Hero MotoCorp, we remain committed to extending our resources to support the government and also safeguarding everyone in our larger ecosystem, including our employees and their families. At a time such as this, we all have to scale up our efforts and contributions manifold to also ensure the wellbeing of the most affected section of society," said Dr. Pawan Munjal, Chairman, Hero MotoCorp.
Hero MotoCorp is hopeful that the government will announce a stimulus package to kickstart the economy
Also Read: Hero Group Pledges ₹ 100 Crore To Fight COVID-19 Outbreak
The Indian automobile industry is estimated to lose around ₹ 2,300 crore each day due to the lockdown imposed to prevent the spread of the coronavirus in the country. Industry body Society for Indian Automobile Manufacturers (SIAM) estimates that plant closures of auto manufacturers as well as components will lead to the loss of over ₹ 2,300 crore in turnover for each day of the lockdown. All automobile manufacturers, including two-wheeler manufacturers and dealerships have shut shop since March 24 when the complete lockdown was first announced. Various Hero Group companies, including Hero MotoCorp, have pledged a total of ₹ 100 crore to provide relief in the battle against the COVID-19 novel coronavirus. Hero MotoCorp has already donated 60 mobile ambulances across India, as part of the measures.
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