Hurricane Sandy poses problems for India too

Even before Hurricane Sandy hit the US East Coast, Indian carriers were feeling its effects, with a number of flights to the region being cancelled. Both Jet Airways and Air India have announced cancellations.

Indian stock markets, already bracing for the monetary policy review on Tuesday, October 30, are likely to be affected if the storm wreaks enough damage to adversely affect the US economy.

US stock markets will be closed on Monday, the operator of the New York Stock Exchange said late on Sunday. Earlier, the plan was to keep electronic trading going on Monday.

The Indian IT industry is unlikely to get affected, says an expert. "Usually, natural disasters don't impact the IT industry in the US, because it is highly insured," says Jessie Paul, Marketing Adviser and former Chief Marketing Officer at Wipro Technologies .

The hurricane, which is expected to make landfall in the US on Monday, is likely to affect a wide swathe on the East Coast from North Carolina to New England and as far west as the Great Lakes.

There have been reports of mass evacuations from low-lying areas in New York and other cities and towns. Transit systems and schools were closed.