Covid New Wave: Indian exporters are crossing their fingers due to rising Covid infections in China and other countries as this may again disrupt the supply chain and impact the demand for goods.
Federation of Indian Export Organization (FIEO) Director General Ajay Sahai said that if the cases continue to rise in the coming days, it may have an impact on imports.
“We’re keeping our fingers crossed,” he said.
Sahai said that if sugar industries start shutting down due to the rise in Covid cases, it will impact imports of key components in sectors such as pharmaceuticals, electronics and automobiles.
“If the situation continues, there will be problems,” he said.
According to commerce ministry data, India’s imports from China stood at $60.27 billion, while exports stood at $8.77 billion during April-October this fiscal.
Major goods imported from China include electronic items, organic and inorganic chemicals, medicinal and pharmaceutical products, fertilizers, raw and manufactured, and dyeing/tanning/coloring materials.
Hand Tools Association President Subhash Chander Ralhan also said that if the cases of Kovid increase further, it will create a problem for the industry here.
“We import key raw materials from China for sectors like chemicals and engineering,” Ralhan said. He suggested that the government should consider stopping flights from China to contain the spread of Covid cases.
Amid a spurt in Covid cases in some parts of the world, Prime Minister Narendra Modi on Thursday cautioned against complacency and directed authorities to strengthen ongoing surveillance measures, especially at international airports.
The Omicron subvariant BF.7 is apparently the strain causing the current surge of COVID cases in China.
Sharing similar views, Sharad Kumar Saraf, Mumbai-based leading exporter and founder chairman of Technocraft Industries India, said the exporter community is worried due to rising infections in China.
Saraf said, “The increasing cases are a cause of concern for us. Our pharma industry is dependent on China. In my factory there, we are seeing 40 per cent absenteeism.”
read also , PM Modi at high-level Covid meeting: Ramp up testing, genome sequencing, wear a mask | 10 points
Read this also | Covid: Why is China battling the new wave? Will the world see the same in the days to come?