10 February, 2020
4 Min Read
Syllabus subtopic: India and its Neighborhood- Relations.
Prelims and Mains focus: about coronavirus outbreak and its impact on India-China trade; global impact
News: Indian companies are bracing for a major supply shock as the rapid spread of the coronavirus infection in China has forced several factories there to extend a shutdown.
What is its impact on India’s imports?
Impact on automobile sector
Impact on the FMCG sector
In anticipation of the supply crunch, Indian retailers of consumer goods have started negotiations to source goods locally.
Impact on the pharmaceutical industry
Impact on global firms
Global firms to are feeling the heat. Facebook, for instance, has warned that it was expecting the coronavirus to impact the production of its Oculus Quest virtual reality headsets. Some even expect delays to hit global icons such as Apple’s iPhone.
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