"The auto sector wanted to race to 12-15 percent growth in FY 2016-17 and there was every indication of that being possible until October 2016, despite some odd setbacks. But the surge was curtailed, albeit temporarily, on account of demonetisation announced on November 8. Now, we are seemingly back on track for much better days. The overall growth of this sector is close to 7 percent across all segments and certain specific segments have shown a much better growth."
Partner, Grant Thornton India LLP
This article apeared in Moneycontrol on 28th April, 2017.