NEWS
ECONOMY   Materials  

India extends Covid-19 lockdowns until early May

India has extended a nationwide lockdown until 3 May in an attempt to curb the spread of Covid-19, but is making some exceptions to minimise economic damage.

The restrictions were initially imposed on 25 March and were due to end today. A total lockdown will be in place until 20 April, after which districts with fewer cases of the virus will be allowed to restart some activity, prime minister Narendra Modi today said today.

The government plans to introduce colour codes, dividing districts into less and more risky areas based on the number of people infected. More details will be available tomorrow.

But the extension will continue to paralyze business activity for this month at least, sending fuel demand down by as much as 70pc from a year earlier and forcing shutdowns of refineries, petrochemical plants, LNG import terminals and other businesses.

Domestic and international flights and Indian Railways have suspended services until 3 May. The ban on air travel will cut jet fuel use by a forecast 90pc this month, industry officials said. The restrictions will also delay several energy, iron ore and coal mining projects because of a lack of materials and labour. Only power plants and coal mines are operational but utilisation has dropped as the closures of factories and businesses hit electricity demand.

The selective restarts could lead to more confusion because federal advisories are often only spottily implemented on a local level. Many trucks have been held up at checkpoints or forced off the roads since the lockdown was imposed, despite government orders allowing transportation of non-essential goods. And businesses in less risky areas may rely on workers or raw materials located in restricted zones, complicating restarts.

Several Indian states led by Maharashtra had already announced extensions of their lockdowns to 30 April. India's eastern state of Odisha become the first jurisdiction to extend its Covid-19 lockdown.

A surge in coronavirus cases has forced the federal government to maintain its restrictions. There were over 10,300 confirmed cases and 339 deaths in India as of today, with Maharashtra, Tamil Nadu and Delhi among the most affected, according to government data. But only around 200,000 people have been tested, less than 1pc of the country's 1.3bn population.

By S Dinakar

News No: 9142
Date: 2020/04/14 - 18:00
News Source: Argus Media

India  Covid-19  economic  materials  LNG 

Comments:

Leave a Comment:

   
   
   
 

Iran, S. Korea discuss details about transferring frozen funds

The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati met with the South Korean Ambassador to Tehran Ryu Jeong-Hyun on Monday to discuss the details regarding the transfer of Iranian frozen assets in the Asian country.
 

Iran sends second cargo of refinery materials to Venezuela

Iran has sent a second cargo of refinery materials to Venezuela to help the country resume operation at the 955,000 barrel-per-day (bpd) Paraguana Refining Complex (CRP) in western Venezuela, Reuters reported, quoting people familiar with the matter.
 

EAEU Opting for Promotion of Economic Ties with Iran

Chairman of the Board of Eurasian Economic Commission Mikhail Myasnikovich in a meeting with Iran’s Parliament Speaker Mohammad Baqer Qalibaf in Moscow on Tuesday said the Eurasian member states attach high importance to their relations with Iran, especially in economic fields.
 

Commodities worth $518m exported from Gilan Province

An official with the customs department of Gilan Province, in the north of Iran, said that 877,393 tons of commodities valued at $518.7 million have been exported from the province during the first ten months of the current Iranian calendar year (March 20, 2020-January 19, 2021).
 

Trade co-op discussed between Iran, Armenia

Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie met with Armenian Economy Minister Vahan Kerobyan on Monday to discuss ways of removing barriers to the expansion of economic cooperation.
 

World’s copper mines struggling with covid-19

The deadly coronavirus has taken a heavy toll on the world’s copper mines.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners