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Excessive tax and high interest rates are the two biggest impediments in the growth and profitability of the automotive industry in the country, according to Force Motors. The Pune-based company, which makes commercial vehicles under the Traveller brand and utility vehicle Trax, besides a range of tractors, said the situation calls for a very detailed and thorough reform. The Indian automotive industry, having grown and matured, remains burdened with two major handicaps which are serious constraints to the growth of the market as well as encouraging investments and ensure the profitability of the industry, the automaker said in its Annual Report for 2019-20.The issues particularly affect domestic companies, other than multinational firms operating in the country, the company noted. "The first unfortunate factor is the very high interest cost in comparison to the global industry which makes investments very burdensome particularly in times where the technology scenario is rapidly changing and new investments in technologies, products, plants and business practices have to be aggressively made," Force Motors said. The difference in interest rates when compared to developed countries is in the range of 6-8 per cent which grossly impacts the competitiveness of the industry, it added. The second adverse factor is very high GST level and also very high road taxes imposed on automobiles in the country with the total incidence of taxation being 50 per cent in case of certain segments, the automaker said.