20 February, 2020
4 Min Read
Syllabus subtopic: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.
Prelims and Mains focus: about the move and its implications; about force majeure clause
News: The government said supply chain disruptions caused by the novel coronavirus (Covid-19) outbreak in China would allow companies to invoke force majeure clause
What is the force majeure clause?
The move is a potential relief for companies facing difficulty in receiving shipments from China due to issues like shutdown of operations there or a hold-up at the ports in India.
Sectors facing supply chain issues
Impact of supply chain disruption (CII analysis)
Source: Indian Express
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.