The auto components industry currently employs 50 lakh people and contributes 2.3 per cent to India's GDP.
Growth slips below long-term trend of 6.6 per cent for 2 qtrs.
Most analysts feel that the week would be lackluster as there are no major positive triggers from the corporate side.
While mining and public utility services grew by around two percentage points, trade, hospitality and financial services remained flat.
Slowdown has been driven by a fall in household savings and banks’ increased bad loans, which has hit private investment.
The government has set fiscal deficit target of 3.3 per cent of the GDP for the current fiscal.
In future, all GST refunds of MSMEs will be paid within 60 days from the date of application, said FM Nirmala Sitharaman.
Industrial growth is expected to decelerate sharply to 5 per cent in Q1 FY2020 from 9.8 per cent in Q1 FY2019.
India's economic growth slowed to 6.8 per cent in 2018-19 - the slowest pace since 2014-15.
Yields in some Asian markets are tracking the slide in their US and UK peers as investors take stock of the damage wrought.