Maruti chairman happy with falling fuel prices; says ''bad luck" for oil producers

Maruti Udyog Ltd Chairman R C Bhargava today said falling crude oil prices are a big positive for India and its automobile industry and those countries which get hit, they only have a bad luck.

He said, "Lower oil prices are a huge benefits to India. I am quite happy with lower prices, if it hurts some other countries, it is a bad luck for them."

While the stock markets around the world have seen a major slide on worries of oil prices crashing to six year low below $50 per barrel, Bhargava said,  ''Stock market does not affect my production.''

Since June this year, with a sharp fall in crude prices, the oil marketing companies have reduced petrol prices eight times.

Bhargava also played a strong votary of workers, who should be employed on regular basis and not on contract .  ''If company is carrying out ... contract workers what is the feeling... Most of you would agree contract worker is going to have minimal amount of feeling or commitment to the company,'' Bhargava said.