Addressing a press conference on Tuesday, Sitharaman had said "The automobile and components industry has been affected by BS6 and the mindsets of millennial, who now prefer to have Ola and Uber rather than committing to buying an automobile."
It may be noted that the automobile sector has seen faltering sales in recent quarters.Domestic passenger vehicle sales skidded for the 10th consecutive month, falling from 287,198 units in August last year to 196,524 units last month and registering a 31.57 per cent decline.
Gadkari, known for his astute business skills, said that his ministry is charting out a way to uplift the automobile industry with the help of the finance ministry.
"The government is with the industry because it is an employment provider. It also contributes to the growth rate. So, we are very sensitive about it. Finance Ministry and my ministry are seriously considering a lot of things for them. I am confident that there will be reform in the sector. I am expecting that India will become the manufacturing hub of the automobile," he said.