Market Updates

India Announces 21-Day Lockdown

India's Prime Minister, Shri Narendra Modi, called for a complete lockdown of the entire nation for the next 21 days beginning at midnight tonight in an effort to contain the COVID-19 Pandemic.

It will begin at 12 AM on March 25th and will run for three weeks.

Additionally, to curtail the movement of personnel within cities, respective state governments have imposed Section 144 of the Criminal Procedure Code which is similar to a curfew under police supervision.

Passenger train services within India are being halted, with an exception for commodity transport and container rail from ICD’s to ports as this activity falls under essential services.

These circumstances will cause an overall disruption in the supply chain and will reduce India’s capacity to export and import goods.

We are closely monitoring this situation and will keep you posted on the latest developments. Please do not hesitate to contact your UWL representative for further questions.

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