The unprovoked outburst by the Union commerce and industry minister Piyush Goyal wherein he called India Inc s business practices as being against national interests, has left corporates baffled. While the corporates may be feeling helpless since even the Confederation of India Industry (CII), an industry body, removed the video of Mr Goyal s 19-minute tirade from its website, the Confederation of All India Traders (CAIT), however, has supported Mr Goyal.
A rising US dollar was behind the setback to both benchmarks, he added.
However, the worsening situation in India, the world s third-largest oil consumer, also weighs heavily on the markets as states impose lockdowns to stop the spread of the virus and cope with a shortage of oxygen.
States including West Bengal in the east, Karnataka in the south and the western Gujarat, imposed shutdowns on Sunday.
Covid-19 infections continue to set fresh daily records in India, which registered 370,059 new cases and 3,422 new deaths on Sunday, according to Worldometer, which tracks the pandemic. The country has nearly 20 million infections ranking it second to the US, which leads the world with over 33 million Covid-19 cases.
Uday Kotak Suggests Curtailing Economic Activity To Curb Coronavirus Transmission Uday Kotak Suggests Curtailing Economic Activity To Curb Coronavirus Transmission At this critical juncture when toll of lives is rising, CII urges the strongest national steps including curtailing economic activity to reduce suffering, Uday Kotak said
Updated: May 03, 2021 10:09 am IST
India s wealthiest banker, Uday Kotak, has called upon the authorities to consider curtailing economic activity in a bid to cut the transmission chain of coronavirus at a time when India has emerged as the coronavirus hotspot and surging cases have overwhelmed the healthcare system.
“At this critical juncture when toll of lives is rising, CII urges the strongest national steps including curtailing economic activity to reduce suffering,” Uday Kotak, president of the Confederation of Indian Industry and chief executive of Kotak Mahindra Bank said in a tweet.
Uday Kotak calls for highest level response measures to tackle COVID wave II
Uday Kotak said, Given the current pandemic situation, safeguarding lives is of utmost priority and nationwide maximal response measure at the highest level is called for to cut the transmission links
BusinessToday.In | May 3, 2021 | Updated 21:01 IST
One of India s top bankers and the Confederation of Indian Industries (CII) president Uday Kotak has urged authorities to consider the highest level response measures to stop the second wave of coronavirus in the country.
Kotak, chief executive of Kotak Mahindra Bank, in a statement issued by CII, said, Given the current pandemic situation, safeguarding lives is of utmost priority and nationwide maximal response measure at the highest level is called for to cut the transmission links.
India Covid crisis: Industry body urges curbs to economic activity to save lives
Reuters/New Delhi
Modi said last month all efforts should be made be avoid a lockdown.
A leading Indian industry body urged authorities to take the “strongest national steps” and to curtail economic activity to save lives on Sunday as the country battles surging coronavirus cases that have overwhelmed the healthcare system.
The rate of new infections dipped marginally but deaths kept climbing. Authorities reported 392,488 new cases in the previous 24 hours, pushing total cases to 19.56 million. Deaths jumped by a record 3,689, taking the overall toll to 215,542.
Billionaire Uday Kotak, managing director of Kotak Mahindra Bank (KTKM.NS), said a maximal response measure at the highest level is called for to cut the transmission links , as building healthcare infrastructure will take time.