Covid-19: India Begins To Feel The Chill
The Hindu Business Line|March 04, 2020
Telcos call off events in Delhi, Tata Motors cuts production, travel sector stranded
Covid-19: India Begins To Feel The Chill

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.

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