While new cases of coronavirus are being reported from different parts of the country, the impact of the global epidemic has started to impact Indian businesses on a real-time basis.
Xiaomi and Realme have called off their respective phone launch events in New Delhi, while Tata Motors has scaled down production due to the hit on its supply chain.
The travel and airline sectors are also facing a crisis as international summer holiday bookings on popular travel sites have dipped by at least 22 per cent.
Export restrictions have been imposed on certain essential active pharmaceutical ingredients as concerns grow over shortages of medicines, with many manufacturers in China shut due to the coronavirus outbreak.
RBI gearing up
Both the Reserve Bank of India and the Prime Minister have sought to assuage concerns. The central bank said it stands ready to take appropriate actions to ensure orderly functioning of financial markets, maintain market confidence and preserve financial stability.
This story is from the March 04, 2020 edition of The Hindu Business Line.
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This story is from the March 04, 2020 edition of The Hindu Business Line.
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