Hyundai India, the country’s second-biggest carmaker, has said that there are “multiple uncertainties” in the Indian market, which are limiting the capacity of companies to plan freely. The situation is so intense that “only a fortune-teller or an astrologer can predict”, which way the demand will be headed, a top official said. Rakesh Srivastava, Senior VP (Sales and Marketing) at the Korean car major’s Indian subsidiary, said that a number of decisions—demonetisation of high value currency notes and the ban on diesel engines earlier last year—have made the situation highly uncertain for carmakers.
The sudden changes in policy are affecting the capacity of companies to plan product launches, technologies and even fresh investments. “The head of an auto company in India needs to be not only a statesman and an analyst, but also don the roles of a fortune-teller, an astrologer and a fire-fighter,” Srivastava said. “He has to adopt these new skill-sets.”