Auto crisis: India's vehicle production likely to shrink by 8.3% in 2020; coronavirus spread may hit supply chain, says Fitch
4 years, 10 months ago

Auto crisis: India's vehicle production likely to shrink by 8.3% in 2020; coronavirus spread may hit supply chain, says Fitch

Firstpost  

The agency said that it believes that the weak domestic demand for new vehicles will see India’s vehicle production continue to contract in 2020. New Delhi: Fitch Solutions on Wednesday said it expects vehicle production in India to contract by 8.3 percent in 2020 as the auto industry faces increasing risk of supply shortage due to China’s coronavirus outbreak, possibly hitting domestic output if the virus spreads in the country. “As a result, we forecast vehicle production in India will contract by 8.3 percent for 2020, following an estimated contraction of 13.2 percent in 2019,” it said. “China supplies India with between 10-30 percent of its automotive components, and this could be two to three times higher when looking at India’s EV segment, which highlights just how exposed India’s automotive manufacturing industry is to the slowdown of vehicle Chinese component manufacturing,” it said.

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History of this topic

The week in 5 charts | Joshimath land subsidence, 2022 sixth-warmest year, invasion of the Brazilian Congress, and more
1 year, 11 months ago

The week in 5 charts | Joshimath land subsidence, 2022 sixth-warmest year, invasion of the Brazilian Congress, and more

The Hindu  

Joshimath land subsidence Joshimath, the gateway to Uttarakhand’s holy places, is sinking. According to NASA, last year was the world’s joint fifth-warmest on record and the last nine years were the nine warmest since pre-industrial times, putting the 2015 Paris Agreement’s goal to limit global warming to 1.5C in serious jeopardy. India’s sales of new vehicles totalled at least 4.25 …

Turning tide: On India’s goods exports
2 years ago

Turning tide: On India’s goods exports

The Hindu  

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. Their share in exports growth has been shrinking since June, with the contraction accelerating for many sectors from September to November — engineering goods that drove much of India’s record $422 billion goods exports in 2021-22, contracted 11.3% while textiles fell a …

What is Indian auto industry's India@100 vision? Automobile body chief replies
2 years, 3 months ago

What is Indian auto industry's India@100 vision? Automobile body chief replies

Hindustan Times  

The Society of Indian Automobile Manufacturers has said that India's automobile industry aims to be among the top two global producers in every segment of vehicles over the next 25 years. The domestic automobile industry has been going through a long-term, deep structural slowdown even before the Covid pandemic surfaced, Kenichi Ayukawa "Industry has prepared a vision statement for India …

India's factory activity growth slipped in May as demand fell
3 years, 7 months ago

India's factory activity growth slipped in May as demand fell

India Today  

India's factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday. India has already reported around 28 million coronavirus cases and over 300,000 deaths, leading many states to impose restrictions affecting economic activity. Read | Core …

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P
3 years, 8 months ago

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P

News 18  

S&P Global Ratings on Wednesday said the second wave of Covid infections poses downside risks to India’s GDP and heightens the possibility of business disruptions. Last week another global rating agency Fitch had projected India’s economic growth in current fiscal at 12.8 per cent, while Moody’s Investors Service had earlier this month said that the second wave of Covid infections …

Boeing expects demand for 2,200 new jets in India over next 20 years
3 years, 9 months ago

Boeing expects demand for 2,200 new jets in India over next 20 years

Live Mint  

Despite the short-term challenges posed by the covid-19 pandemic, aerospace firm Boeing Co expects demand for more than 2,200 new jet planes valued at nearly $320 billion over the next 20 years in India. "Although the covid-19 pandemic sharply reduced Indian air travel last year, the country’s domestic passenger traffic is recovering more rapidly than in most other countries and …

India's GDP grows by 0.4% in 3rd quarter, exits contraction phase
3 years, 10 months ago

India's GDP grows by 0.4% in 3rd quarter, exits contraction phase

India Today  

The Indian economy has finally bounced back into growth territory, ending technical recession, in the October-December period after two consecutive quarters of GDP contractions. In its first advance estimates released in January, it had projected a contraction of 7.7 per cent for the current fiscal as against a growth of four per cent in 2019-20. Economists and research firms had …

Budget 2021: Expectations of Indian Auto Industry
3 years, 11 months ago

Budget 2021: Expectations of Indian Auto Industry

News 18  

As Finance Ministry prepares the annual budget scheduled to be presented in February 2021, Indian auto indusrty is hoping for some key announcements to induce confidence in the market again, suffering from dull sales due to COVID-19 pandemic. Here are some key recommendations from Federation of Automobile Dealers Associations, apex national body of Automobile Retail Industry in India- Introduce benefits …

Indian economy heading towards V-shaped recovery in 2021: Assocham
3 years, 11 months ago

Indian economy heading towards V-shaped recovery in 2021: Assocham

The Hindu  

India's economy is showing decisive signs of a 'V-shaped' recovery in 2021 with the return of consumer confidence, robust financial markets, an uptick in manufacturing and exporters braving it out in the global market with never-say-die spirit, Assocham said on Sunday. "The high-frequency data is a strong pointer to a V-shaped recovery in 2021 with the seeds bursting into green …

India’s services sector loses more steam in December, job cuts resume
4 years ago

India’s services sector loses more steam in December, job cuts resume

Live Mint  

Growth in India's dominant services industry continued to lose momentum in December as a resurgence in coronavirus infections weighed on new business and employment, a private survey showed on Wednesday. The Nikkei/IHS Markit Services Purchasing Managers' Index fell to 52.3 in December from November's 53.7 but held above the 50-mark separating growth from contraction for a third straight month. "A …

The Hindu Explains | How is the Indian economy faring, and what are the predictions on growth for 2021?
4 years ago

The Hindu Explains | How is the Indian economy faring, and what are the predictions on growth for 2021?

The Hindu  

The story so far: The year 2020 upended India’s economy as much as it disrupted the rest of the world, along with all aspects of normal life, thanks to the novel coronavirus. But unlike most other peers, India’s economy had already been hurtling downhill before the pandemic hit, and a snap national lockdown announced in late March scuppered virtually all …

Hike in Automotive Prices Could Dim Prospects For Demand Recovery After December: Fitch Ratings
4 years ago

Hike in Automotive Prices Could Dim Prospects For Demand Recovery After December: Fitch Ratings

News 18  

Indian automakers’ plans to pass on higher commodity prices to customers will dim the prospects for a demand recovery after December 2020, when the boost in some categories from pent-up demand and festive spending fades, and the economic impact from the coronavirus pandemic reasserts itself, said Fitch Ratings on Thursday. Accordingly, the ratings agency said pent-up demand after the gradual …

Factory dispatches of PVs, motorcycles rise for the fourth straight month in Nov
4 years ago

Factory dispatches of PVs, motorcycles rise for the fourth straight month in Nov

Live Mint  

MUMBAI: Domestic wholesale of passenger vehicles and two-wheelers increased for the fourth consecutive month in November, after production and sales came to a halt in April due to the lockdown measures. Dispatches of passenger vehicles increased by 4.6 % y-o-y to 2,64,898 units, as demand for compact cars and entry sport utility vehicles continued to rise in the rural, semi-urban …

2020 could be for manufacturing what 1991 was for our economy
4 years, 2 months ago

2020 could be for manufacturing what 1991 was for our economy

Live Mint  

India, once a predominantly agrarian economy, has come to be acknowledged globally as a software/ information technology giant. While there have been state interventions aimed at industrialization, ranging from the “temples of modern India” to special economic zones, an Indian manufacturing revolution never really took off in earnest. His government launched an ambitious “Make in India” programme in September 2014 …

COVID-19 Hit Indian Auto Industry Shows Sign of Recovery, Records Almost 30 Percent Growth
4 years, 2 months ago

COVID-19 Hit Indian Auto Industry Shows Sign of Recovery, Records Almost 30 Percent Growth

News 18  

The Indian auto industry, in 2019, recorded its worst ever sales in almost 2 decades, with numbers falling as low as 50 percent. #SIAMData #BTNR— SIAM India October 16, 2020 The recently released sales data from September 2020 reveals that the Indian car industry has registered a massive growth of 28.92 percent in overall sales as compared to same period …

Tractor Sales in India Continue to Rise Amid Labour Shortage Due to Migration, COVID-19
4 years, 3 months ago

Tractor Sales in India Continue to Rise Amid Labour Shortage Due to Migration, COVID-19

News 18  

The Covid-19 pandemic triggered an acceleration in tractor sales in India which is expected to last beyond the festive season, industry insiders opined. The solid rabi crop harvest and the expectation of a good kharif harvest on the back of adequate monsoon is largely driving the sales," said Shruti Saboo, Associate Director, India Ratings and Research. “OEMs have been ramping …

India’s economy contracts by 24%, worst in at least 24 years
4 years, 4 months ago

India’s economy contracts by 24%, worst in at least 24 years

Associated Press  

NEW DELHI — India’s economy contracted by 23.9% in the April-June quarter, its worst performance in at least 24 years, the government announced Monday, as the coronavirus pandemic ravaged what was once the world’s fastest growing major economy. The contraction followed tepid 3.1% growth in the previous quarter, which was the worst performance in at least eight years, the National …

India's virus-hit industrial output shrinks 16.6% in June
4 years, 4 months ago

India's virus-hit industrial output shrinks 16.6% in June

News 18  

NEW DELHI India’s industrial output fell 16.6% year-on-year in June, shrinking for the fourth month in a row, though the monthly measure indicated some recovery in the coronavirus-hit sector. Industrial activity has been hit hard in Asia’s third-largest economy after the government imposed lockdown restrictions in late March. Passenger vehicle production in July fell 29.4% from a year earlier, separate …

India June factory output contracts 16.6%
4 years, 4 months ago

India June factory output contracts 16.6%

Live Mint  

India’s factory output contracted sharply for the fourth straight month in June, though at a slower pace than in May, signaling gradual process of normalization of manufacturing activity, even though localised lockdowns following rapidly spreading pandemic could hamper the economic recovery process. However, Aditi Nayar, principal economist at ICRA Rating said IIP contraction may come down to single digit in …

Covid-19 Pandemic Impact to be Severe, Prolonged for Aviation, Hospitality, Retail Sectors: ICRA
4 years, 4 months ago

Covid-19 Pandemic Impact to be Severe, Prolonged for Aviation, Hospitality, Retail Sectors: ICRA

News 18  

The coronavirus pandemic will significantly impact performance of companies and it is likely to be severe and prolonged for select sectors, especially aviation, hospitality and retail, according to ratings agency ICRA. As per ICRA analysis, the impact is likely to be severe and prolonged for select sectors, especially aviation, hospitality, retail and allied businesses," it said. The ratings agency, however, …

Post-Pandemic (R)evolution- Rise Of India
4 years, 6 months ago

Post-Pandemic (R)evolution- Rise Of India

Live Law  

The Covid-19 shock has had a devastating long-term impact in several aspects. This article discusses various effects on several domains like travel & tourism, international trade, events, offices, real estate and their emergence post-pandemic. Although many projections are of the view that people are likely to drive to nearby vacation spots instead of flying to one, vacationing in sanitised rental …

What is the future of India's auto sector? Ask Maruti, Hyundai & Benz
4 years, 6 months ago

What is the future of India's auto sector? Ask Maruti, Hyundai & Benz

New Indian Express  

Express Expressions What is the future of India's auto sector? Ask Maruti, Hyundai & Benz With retail diesel prices turning costlier than petrol for the first time in history in places like Delhi, India’s top automobile manufacturers believe that demand for diesel models in the small, entry-level segment is likely to contract. Wednesday’s session on the Future of the Auto …

Indian economy to contract by 4% in 2020-21, forecasts ADB
4 years, 6 months ago

Indian economy to contract by 4% in 2020-21, forecasts ADB

The Hindu  

Hit hard by the COVID-19 pandemic, the Indian economy is expected to contract by 4% during the current financial year, the ADB said in a supplement to its Asian Development Outlook on Thursday. ‘Developing Asia’ will barely grow in 2020, as containment measures to address the coronavirus disease COVID-19 pandemic is expected to hamper economic activity and weaken external demand, …

Coronavirus Lockdown: India faces worst recession in current fiscal; economy to shrink by 5%, says CRISIL
4 years, 7 months ago

Coronavirus Lockdown: India faces worst recession in current fiscal; economy to shrink by 5%, says CRISIL

Firstpost  

India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said on Tuesday as it predicted the economy to shrink by 5 percent in the current fiscal because of coronavirus lockdown New Delhi: India’s fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said …

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs
4 years, 7 months ago

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs

Firstpost  

American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever Mumbai: American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever. A slew of watchers are expecting a contraction in the Indian …

Lockdown impact: India e-commerce market picks pace, may touch ₹7 trln by 2023
4 years, 7 months ago

Lockdown impact: India e-commerce market picks pace, may touch ₹7 trln by 2023

Live Mint  

MUMBAI: The coronavirus pandemic will accelerate the growth of India’s e-commerce market, pushing it to ₹7 trillion by 2023, according to GlobalData, a London-based data analytics firm. “The growth of Indian e-commerce market has been revised up, considering the positive push due to coronavirus outbreak,” said GlobalData on Friday. The e-commerce market in India is set to grow at a …

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings
4 years, 7 months ago

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings

Firstpost  

The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report Mumbai: The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in …

Coronavirus lockdown | Industrial output shrank 16.7% in March 2020
4 years, 7 months ago

Coronavirus lockdown | Industrial output shrank 16.7% in March 2020

The Hindu  

India’s factory output plummeted to record lows in March, with the Index of Industrial Production contracting 16.7%, reflecting the drastic impact of the countrywide lockdown that began on March 25. FMCG sector may begin some recovery in May, but the rest of the industry is going to continue in the doldrums.” All categories of manufacturing industries showed a contraction in …

Time for action to make India global manufacturing hub in post-coronavirus world: Industry experts
4 years, 8 months ago

Time for action to make India global manufacturing hub in post-coronavirus world: Industry experts

Firstpost  

India can be the destination of choice for global manufacturing in the post-COVID 19 world if it gets its acts together with the right policies as a lot of things are going for the country, say industry experts Bengaluru: India can be the destination of choice for global manufacturing in the post-COVID 19 world if it gets its acts together …

India has best opportunity to attract foreign investment, emerge manufacturing hub due to COVID-19 crisis
4 years, 8 months ago

India has best opportunity to attract foreign investment, emerge manufacturing hub due to COVID-19 crisis

India TV News  

India may have the best opportunity to attract foreign investment and replace China as the world's manufacturing hub, says US India Strategic and Partnership Forum president Mukesh Aghi, as reported by PTI. Further speaking on coronavirus crisis may provide India an opportunity to become the next manufacturing hub, Aghi said, "I strongly feel that once the COVID-19 crisis ends, India …

Coronavirus Outbreak: Appliance, consumer electronics makers look at production resumption post-lockdown
4 years, 8 months ago

Coronavirus Outbreak: Appliance, consumer electronics makers look at production resumption post-lockdown

Firstpost  

New Delhi: Many appliances and consumer durables manufacturers have decided not to resume manufacturing despite the government relaxing certain guidelines for industries to operate in lockdown 2.0, preferring to wait till the curbs are fully lifted. Companies like Panasonic India, Godrej Appliances, Dixon Technologies and Super Plastronics Pvt Ltd said with retail outlets shut there is no point to start …

Coronavirus | IMF projects 1.9% growth for India in 2020
4 years, 8 months ago

Coronavirus | IMF projects 1.9% growth for India in 2020

The Hindu  

The COVID-19 pandemic is having a “severe” effect on the world economy and is expected to cause a -3% change in global output in 2020, “much worse” than the 2008-09 financial crises, as per the International Monetary Fund’s World Economic Outlook. Assuming that the pandemic fades in the second half of this year, with containment efforts gradually easing up, the …

Coronavirus impact: Domestic automobile sales decline 45 per cent in March 2020
4 years, 8 months ago

Coronavirus impact: Domestic automobile sales decline 45 per cent in March 2020

India Today  

The Indian automobile sector has taken a major hit in March 2020 with subdued demand and 21-day nationwide lockdown announced to prevent the spread of Covid-19 resulting in the overall domestic sales plunging 44.95 per cent to 10,50,367 units during the month, the latest data from the SIAM has revealed. The total passenger vehicle sales fell 51 per cent to …

Impact on auto sector to be clear once lockdown is lifted, supply chain resumes full ops: Nissan
4 years, 9 months ago

Impact on auto sector to be clear once lockdown is lifted, supply chain resumes full ops: Nissan

India TV News  

The impact of the COVID-19 pandemic on India’s automobile industry will be clear once the ongoing lockdown is lifted and there is clarity on the time taken by supply chain to resume optimal production, according to a top Nissan Motor India official. With the novel coronavirus outbreak, the industry was given a further blow with Society of Indian Automobile Manufacturers …

Coronavirus Outbreak: ADB expects India's economic growth to slow down to 4% in FY21
4 years, 9 months ago

Coronavirus Outbreak: ADB expects India's economic growth to slow down to 4% in FY21

Firstpost  

India’s economic growth is likely to slow down to 4 percent this fiscal on the back of the current global health emergency, Asian Development Bank said in its outlook for the financial year 2020-21 on Friday New Delhi: India’s economic growth is likely to slow down to 4 percent this fiscal on the back of the current global health emergency, …

Coronavirus impact: Major Indian carmakers report steep sales decline in March 2020
4 years, 9 months ago

Coronavirus impact: Major Indian carmakers report steep sales decline in March 2020

India Today  

The coronavirus outbreak in India and the resultant 21-day nationwide lockdown to contain the Covid-19 pandemic has had a major impact on the automobile sales in March 2020. Maruti Suzuki India saw its total domestic passenger vehicle sales falling 47.4 per cent to 76,240 units in March 2020. Honda Cars India saw its domestic sales coming down to 3,697 units …

Coronavirus impact: Hyundai Motor India domestic sales decline 41 per cent in March 2020
4 years, 9 months ago

Coronavirus impact: Hyundai Motor India domestic sales decline 41 per cent in March 2020

India Today  

Hyundai Motor India today reported a fall of 40.70 per cent in the domestic sales to 26,300 units in March 2020, amid the coronavirus outbreak in the country. The export numbers of Hyundai Motor India plunged 64.41 per cent to 5,979 units in March 2020. On the cumulative front, Hyundai Motor India's sales fell 47.21 per cent to 32,279 units …

Business in times of corona: How some firms are battling odds amid Covid-19 pandemic
4 years, 9 months ago

Business in times of corona: How some firms are battling odds amid Covid-19 pandemic

India Today  

Dusty roads leading up to locked factories have become a common sight in most of India’s cities and towns as businesses apart from those manufacturing/selling essential commodities have been temporarily shut due to the 21-day lockdown to prevent the spread of Covid-19. FMCG shines amid crisis FMCG sector has become another key economic player during the crisis period as demand …

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA
4 years, 9 months ago

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA

Firstpost  

Despite the Reserve Bank of India’s massive actions to spur the economy, India’s gross domestic product is likely to contract by 4.5 percent in the April-June 2020 quarter and will rise by only 2 percent in 2020-21 on the coronavirus impact, according to domestic rating agency ICRA Mumbai: Despite the Reserve Bank of India’s massive actions to spur the economy, …

'COVID-19 to impair Indian economy, FY20 GDP growth seen at 2.5%'
4 years, 9 months ago

'COVID-19 to impair Indian economy, FY20 GDP growth seen at 2.5%'

India TV News  

The coronavirus pandemic and the ongoing lockdown is set to severely impair the Indian economy as the Moody's Investor Service has further lowered its growth estimate for India to 2.5 per cent for the current fiscal. "We have revised our global growth forecasts downward for 2020 as the rising economic costs of the coronavirus shock, particularly in advanced economies, and …

Coronavirus outbreak: Honda Cars India temporarily suspends production at manufacturing plants
4 years, 9 months ago

Coronavirus outbreak: Honda Cars India temporarily suspends production at manufacturing plants

India Today  

Honda Cars India has temporarily suspended production at its manufacturing plants in Greater Noida, Uttar Pradesh and Tapukara, Rajasthan till March 31, amid the coronavirus pandemic. However, this will be dependent upon advice from government/ health authorities, and market and supply conditions," Honda Cars India said in an official statement. We standby them during this tough phase and urge everyone …

India’s manufacturing PMI goes down in Feb as coronavirus outbreak hits business
4 years, 10 months ago

India’s manufacturing PMI goes down in Feb as coronavirus outbreak hits business

The Hindu  

The country’s manufacturing sector activity eased in February from a near eight-year high in the previous month and business sentiment took a hit amid impact of coronavirus outbreak on exports and supply chains, a monthly survey said on March 2. At 54.5 in February, the headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index held close to January’s near …

How coronavirus pandemic is affecting India's already ailing auto sector
4 years, 10 months ago

How coronavirus pandemic is affecting India's already ailing auto sector

India TV News  

Coronavirus outbreak that has claimed around 3,000 lives worldwide has affected people across in more ways than one. Maruti Suzuki sees 1% drop in sales The country's largest carmaker Maruti Suzuki India on Sunday reported a 1.1 per cent decline in sales at 1,47,110 units in February. Sales of mini cars, comprising Alto and WagonR, stood at 27,499 units as …

India can fill up export market space vacated by China due to coronavirus: Assocham
4 years, 10 months ago

India can fill up export market space vacated by China due to coronavirus: Assocham

India TV News  

With the Chinese economy getting impacted due to the coronavirus outbreak, India can push its exports in the global markets to fill up the space vacated by the neighbouring country, industry body Assocham said on Sunday. "Barring a few segments, a large number of engineering exports from India can fill up the market vacated by China; so is the case …

Coronavirus spread to impact India’s auto component industry, says body
4 years, 10 months ago

Coronavirus spread to impact India’s auto component industry, says body

The Hindu  

The supply restrictions from China caused by the spread of coronavirus, which have started adversely affecting the Indian automobile industry, is likely to have a negative impact on the automotive component and forging industries in India shortly, an industry association has said. China accounts for 27% of India’s automotive component imports and, this year, vehicle demand in the country is …

Coronavirus woes: Epidemic affects domestic auto, forging industry, says AIFI; vehicle demand likely to decline by 8.3% this fiscal
4 years, 10 months ago

Coronavirus woes: Epidemic affects domestic auto, forging industry, says AIFI; vehicle demand likely to decline by 8.3% this fiscal

Firstpost  

Forging industry primarily caters to the $57 billion automotive industry. Mumbai: Disruption in supplies due to the coronavirus outbreak in China has hit domestic forging industry along with automobile and auto component manufacturing sectors, the Association of Indian Forging Industry said on Thursday. “The disruption caused by coronavirus has hit the automotive industry and thus also affected the automotive component …

Coronavirus outbreak could impact India Inc: Report
4 years, 10 months ago

Coronavirus outbreak could impact India Inc: Report

India TV News  

Coronavirus outbreak could cause a dent to the recovery of the Indian economy amid supply chain disruptions and inflationary pressures, a report said on Thursday. According to Dun & Bradstreet's Economy Observer report, manufacturing companies could face production disruptions if the length of the outbreak gets prolonged and their supply chain is not restored to normalcy. "The outbreak of coronavirus, …

How coronavirus outbreak will impact Indian economy
4 years, 10 months ago

How coronavirus outbreak will impact Indian economy

India Today  

The new coronavirus outbreak will be worse for the global economy, including India. In the latest assessment, credit agency CRISIL's has revealed that novel coronavirus is going to hit the Indian economy if it continues to the first quarter of next fiscal. About 67 per cent of electronic components and 45 per cent consumer durables are imported from China. "Shutdown …

COVID-19 | Steps soon to deal with coronavirus impact on Indian industry, says Nirmala Sitharaman
4 years, 10 months ago

COVID-19 | Steps soon to deal with coronavirus impact on Indian industry, says Nirmala Sitharaman

The Hindu  

Disruption in supply of raw materials from China due to the coronavirus outbreak could have a serious impact on several Indian industries, especially the pharma sector, industry leaders told Finance Minister Nirmala Sitharaman at a consultation on the issue on Tuesday. Ms. Sitharaman said the Secretaries of the Finance Ministry would coordinate meetings with secretaries of other stakeholder Ministries on …

Coronavirus: India Inc will shiver if China can't contain outbreak
4 years, 10 months ago

Coronavirus: India Inc will shiver if China can't contain outbreak

India Today  

Growing insecurity over the coronavirus epidemic in China may have a sharp impact on India's already-strained economy as industries fear that the outbreak could cripple their production activities. While the government predicted India's growth for the next fiscal at 6.5 per cent, delay in supply of key essential commodities from China for a prolonged period could spill water on that …

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