Arson & Loot In Kathmandu Leaves Indian FMCG & Retailers Spooked
FMCG brands with presence in Nepal are spooked with reports ranging from fire to arson. The business for many Indian FMCG brands has been disrupted.
File Image of Protest in Nepal - Protesters Set Fire To Mainstream Media Publication Kantipur's Office In Kathmandu | X
Reports of local shops and retailers being looted and set on fire has caused a massive flutter among Indian retailers. On Friday, fresh reports emerged of violence and shops set on fire. There were also reports of countless trucks awaiting to enter Nepal at the India-Nepal border in Bihar.
FMCG players such as Dabur and Britannia on Thursday confirmed a disruption to their manufacturing operations from the political unrest in Nepal.
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On social media, there have been reports of departmental stores such as Bhat Bhateni vandalized by mobs and protestors.
WHICH INDIAN FMCGS ARE AFFECTED?
Indian businesses have significant presence in Nepal. On Wednesday this week, videos of Hilton Kathmandu on fire spooked fears among businesses. Indian FMCG companies includes a marquee list of FMCG giants such as Dabur, ITC (Surya Nepal), Britannia Industries, Reliance Retail, Patanjali, Varun Beverages and others.
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Britannia Industries has temporarily suspended production and a spokesperson was quoted saying, "Safety of our people is of utmost importance and we have temporarily halted all our operations to ensure the same."
Dabur, too has been quoted as saying that operations in Birganj, where it operates a manufacturing facility has been affected. "Situation is evolving... Safety and well-being of our employees, partners, and communities remain our highest priority," a spokesperson had been quoted as saying.
On Friday, FMCG indices traded lower - the BSE FMCG index traded 146.15 points lower while NIFTY FMCG was 403.45 points lower to settle at 56,557.15.
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