If imposed '2nd lockdown will be detrimental for economy'
Amid rising Covid-19 cases, Nippon Paint India on Thursday said a second lockdown, if imposed, will be detrimental not only for the industry but for the economy as well.
New Delhi: Amid rising Covid-19 cases, Nippon Paint India on Thursday said a second lockdown, if imposed, will be detrimental not only for the industry but for the economy as well.
Stating that the manufacturing sector is still reeling under the effects of the last lockdown, the company said labourers are skeptical and anticipating a second lockdown they have started planning their return journeys as the memories of the last lockdown are still fresh in their minds.
"With India in the middle of a second wave of coronavirus, second lockdown, if imposed, will be detrimental not only for the industry but for the economy as well," Nippon Paint India President (Automotive Refinishes and Wood Coatings) Sharad Malhotra said in a statement.
The second wave of Covid-19 and a possible second lockdown is something to be concerned for, he said adding that "the manufacturing sector is still reeling under the effects of the last lockdown". Elaborating further, Malhotra said, "The supply chain is still not recovered completely and with the possibility of a second lockdown, we will have to wait for another 6-9 months, if not a year, for it to recover."
