Omega Seiki chairman urges auto firms: Don't solely rely on Government, risking their own fall

Even while requesting the government to be consistent in its policy making, Uday Narang, Founder and chairman of electric vehicle manufacturer Omega Seiki, urged auto companies to refrain from relying solely on the government to navigate their operations, as this could 'potentially lead to their fall'. 

Narang, while speaking during a panel discussion on the automotive sector organised on the sidelines of the Vibrant Gujarat summit, said, "Don't depend on the government. If you wait for government, then you may fall down some day." 

Narang's remarks should be seen in the context of the tightening of subsidies for electric two-wheelers last year under the FAME scheme after certain mismanagement by certain OEMs came to light. This led to a sudden drop in demand for two-wheelers in the country, as subsidies acted as demand generators. The demand, however, regrouped during the later months. 

He further pointed out that the government should be consistent with its policies and have a long-term vision rather than taking decisions in a short-sighted manner. 

"I just want a policy that is stable. In our country, there is one thing: there is a lot of volatility in policies. There has to be a consistent policy and a long-term vision," Narang said.