Marico, Dabur suspend operations in Egypt; trade disrupted on fears of looting
International consequences and impact on India will be more severe if situation deteriorates; other companies prefer to wait and watch for the situation to unfold
Marico and Dabur have temporarily shut down their units in Egypt and trade between the two countries has been disrupted following the worsening unrest in the Arab nation, according to companies and trade organisations.
It has been reported that at least two other companies-Asian Paints and Emami-which have operations in Egypt, are keeping a close watch on the situation before taking a decision either way. Wipro, Ranbaxy and IFFCO also have wholly-owned companies in the country.
Meanwhile, the government has said that it has “not received any information so far” of any disruption of India’s shipping movements through the Suez Canal, following the Egyptian crisis. Read more here: Moneylife.in
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