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Companies shut plants, cut output to cope with fall in demand
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Companies shut plants, cut output to cope with fall in demand
Pankaj Doval / TNN / Updated: Apr 30, 2021, 11:23 IST
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NEW DELHI: The fresh wave of the coronavirus has crippled industrial activity across key manufacturing units as factory output has drastically reduced for many, and even come to a halt for some top ones, in view of rising infections and closure of showrooms, with states and cities putting in place lockdowns and mobility restrictions.
Companies that have announced closures include Toyota, Maruti Suzuki, Hero Moto and Honda Motorcycles and Scooter India (HMSI), while those that have reduced output are understood to include Havells, Nippon Paints, Panasonic, Mercedes-Benz, Mahindra & Mahindra (M&M), LG (Pune factory) and Tata Motors.
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Pune, India, April 30, 2021 (GLOBE NEWSWIRE) The global
abrasives market size is expected to gain momentum by reaching USD 58,363.7 million by 2028 while exhibiting a CAGR of 5.8% between 2021 and 2028. Fortune Business Insights in its latest report, titled, Abrasives Market, 2021-2028. , mentions that the market stood at USD 37,317.1 million in 2020 and is likely to showcase significant growth in the forthcoming years. This is attributable to the increasing product demand from the construction industry worldwide.
The drastic effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. The lockdown imposed by the government agencies has led to several industries facing halted industrial operations. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
(This story originally appeared in on Apr 30, 2021)NEW DELHI: The fresh wave of the coronavirus has crippled industrial activity across key manufacturing units as factory output has drastically reduced for many, and even come to a halt for some top ones, in view of rising infections and closure of showrooms, with states and cities putting in place lockdowns and mobility restrictions.
Companies that have announced closures include Toyota, Maruti Suzuki, Hero Moto and Honda Motorcycles and Scooter India (HMSI), while those that have reduced output are understood to include Havells, Nippon Paints, Panasonic, Mercedes-Benz,
Mahindra & Mahindra (M&M), LG (Pune factory) and Tata Motors.