The automobile sector accounts for 49 per cent of India's manufacturing gross domestic product (GDP).
In a regulatory filing, Hero MotoCorp said its manufacturing facilities will be closed from August 15 to 18, 2019.
Commerce and industry ministry is working on a proposal that would be finalised soon and sent for Union Cabinet's approval.
Auto parts manufacturers and dealers have laid off about 350,000 workers since April.
M&M said it would be observing 'no production days' in various plants for 8-14 days during second quarter of 2019-20.
MoS Arjun Ram Meghwal informed that three lakh electric vehicles have already been sold under the FAME India Scheme.