Small forward is the manufacturing unit at Hosur Tamil Nadu faced this difficult time. Economic downturn has affected the global situation of the industry that more than 1,500 homes and small industry-standard unit.
Almost 75% of those involved in creating the elements for the Automotive industry. Not long ago, the auto parts manufacturing units recorded healthy return on their investments and see stable growth.
However, it appears again. Demand has slumped dramatically in the local and global auto market in a few houses, and small and medium-sized auto parts maker in Horus is bleeding.
Horus in manufacturing industry is witnessing impressive growth of around 10% annually between 2002 and October 2008. In addition to Automotive sector, building industry in the small industrial city also maintained a stable growth.
However, after the economic crisis and then move on export orders, revenue growth from the manufacturing sector dropped significantly in Hosur to Rs 300 crore a month compared to Rs 1200 crore recorded in August-September 2008.
Hosur automotive company, which is home to auto majors such as Ashok Leyland Motors and TV, has witnessed 60% to 65% decrease in the order books in their last two weeks.
Industry, which accounts for 40% of the total business, will see 4000 job losses in the previous three months. Dwindling orders and quick closure of the factory unit is now threatening the existence of the community is automatically the components industry.
To stay afloat, a small manufacturing unit at Hosur starting opportunities in other industries, especially electricity sector.
Although, the recently announced tax cut stimulate Union government back in May while demand in the auto sector, which is necessary to take measures to bring more Hosur manufacturing back to the track.
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