 "Indian firms resuming operations in Bangladesh after protest disruptions | News")
Disruption linked to deadly anti-government protests that forced Prime Minister Sheikh Hasina to resign and flee to India. (Photo:X/@AsadAToor)
Indian companies are slowly resuming normal operations in neighbouring Bangladesh following disruption linked to deadly anti-government protests that forced Prime Minister Sheikh Hasina to resign and flee to India.
Here are some details of what Indian companies have said about their activities in Bangladesh, where many products made by India-based firms are household names:
LIFE INSURANCE CORPORATION OF INDIA (LIC)
LIC of Bangladesh partially resumed operations in the country from Aug. 8, when Nobel Peace laureate Muhammad Yunus took charge of Bangladesh’s caretaker government, after closing its offices for three days.
It has 13 offices in the country and sold nearly 4,500 policies in the financial year ended March 2024.
The unit of the Indian government-backed LIC, however, said the situation had “still not reached the stage of normalcy” and “may continue to hamper the operations”.
PEARL GLOBAL INDUSTRIES
The Indian garment maker, which supplies to global brands including GAP, Macy’s and Ralph Lauren, said its factories resumed operations on Aug. 7 with “normal 97 per cent+” staff attendance, after two days of a curfew-mandated shutdown.
It said it was operating 70% of its facilities at full capacity and would resume operations at the rest when it felt more confident about the security of its workers in certain parts of Bangladesh.
It has four plants in the capital, Dhaka, and Gazipur where it manufactures hoodies, tracksuit pants and other items.
MARICO
The consumer goods maker, which sells its Parachute brand of hair oil and Saffola cooking oil in Bangladesh, said on Aug. 7 a majority of its retail sales force and distributors had resumed their work. It expected manufacturing to follow suit soon.
Marico, however, said it remained watchful of the situation and was prioritising the safety of its employees, factory workers and distributors.
The company earned 44 per cent of its international revenues of 25.10 billion Indian rupees ($299 million) from Bangladesh in the fiscal year ended March 2024, and has a distribution network of more than 770,000 outlets in the country.
First Published: Aug 09 2024 | 2:36 PM IST
