India’s largest car company is facing serious labour unrest. On Thursday a riot at Maruti’s plant in Manesar, near Delhi turned deadly. A mob of several hundred people tore through the factory, burning parts of it and smashing machines. One person, the human resources manager Awanish Kumar Dev was killed.
Maruti says he was burnt to death. Other members of the management were also attacked and several were injured. Both workers and management are blaming each other for the riot. Meanwhile, the Haryana government has created a special team to investigate the incident.
The Manesar factory usually makes about 550,000 cars every year. But a series of strikes since last year hurt production for several months. News of Thursday’s riot sent shares of Maruti plunging 8.74% on the BSE, its lowest close in nearly two years.
Indian markets shot up on Thursday, with the Sensex ending at its highest level in a week. The index climbed 94 points to close at 17,279. And the Nifty went up 26 to 5,243.
One dead after riot at Maruti factory; markets shoot up, led by RIL.