New Delhi: Most companies adopt wait-and-watch strategy after a flurry of shutdowns following a surge in the deadly coronavirus.
The second wave of Covid has devastated the country both socially and economically. The manufacturing sector of India has been severely hit as production has been significantly cut.
Automobile companies like Maruti Suzuki, Toyota Kirloskar Motor, Hero MotoCorp, and Honda Motorcycles and Scooter India (HMSI) have announced closures.
Amid concerns over the spread of deadly virus, it is understood that the Covid-induced supply disruptions will continue on the production front, particularly as supply networks and raw material vendors have also been badly impacted.
Many companies have adopted a wait-and-watch policy in these uncertain times. India’s biggest carmaker Maruti Suzuki announced that it is closing its manufacturing units in Haryana to make oxygen available for medical purposes. Toyota has announced that both its plants in Karnataka would remain shut because of a scheduled annual maintenance programme from April 26 to May 14.
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