Maruti Suzuki India today said its exports to Egypt, which accounts for 3% of its overseas sales, will be impacted due to the political unrest in the North African nation.
"Egypt accounts for three% of our global exports and definitely the unrest there will have an impact," Maruti Suzuki India Managing Executive Officer (Marketing & Sales), Mayank Pareek told reporters here.
Last fiscal MSI had a total exports of 1.47 lakh units.
The company sells mostly the compact car Alto in Egypt. Although it has no direct operations in the country, it has a single distributor that is responsible for sales there.
MSI has been facing a challenge in its exports mainly due to a decline in demand from Europe, which is its major market.
In January, its exports had declined by 36% to 9,321 units from 14,562 units in the same month last year.
For the ongoing fiscal, its overall exports has seen a decline of 2.9% in the April-January period to 1,16,636 units from 1,20,097 units in the same period last fiscal.
The unrest in Egypt has forced many Indian firms to close operations temporarily. FMCG firms Dabur and Marico and paints manufacturing company Asian Paints have shut their plants in the country.
