Impact of Coronavirus (COVID-19) on India
- India's Import from China
*Active pharmaceutical ingredients (API): 70%
*Certain Mobiles: 90%
*Automotive parts and fertilisers: more than 25%
*Organic chemicals: 37%
*Inorganic. Chemicals: 13%
- India's export to China: 5%
China is India’s 3rd largest export partner.
- Up to a large extent, it will impact the Indian industry. In imports, the dependence of India on China is huge. Of the top 20 products that India imports from the world, China accounts for a significant share in most of them. more
Thanks. I would like to further add on based on your inputs.
Okay China communist country n we are democratic . But that doesn't restrict our growth or development in all these years. Facing competition in all the manufacturing sectors is a normal phenomena. Let me just share the history here, after the world war II, the world markets were flooded with cheap Japanese goods like toys, n other household goods, but the quality was poor. All such goods were sold on the footpaths in lots.
Thereafter, the industrial revolution made Japan number one country in steel, machineries, chemicals , aeroplane parts, etc; n that too company like Hitachi started producing from paper pins to Aircrafts n also wrist watches by Seico .Breaking the monopoly of Swiss made watches. How was that possible , only n only due to the spirit of COINTRY FIRST rest all can wait.
The liberal transport or incetives etc were there in our country also ,tax holiday for industries in many rural areas later on it was given the name of under SEZs zones. But the industries started taking disadvantage of such benefits n incentives,and never thought of passing on the benefits to their clients. Taken liberal finance from banks n have closed down their industries. There were hundreds of industries which were on the list of auction by the industrial development n industrial finance corporations of the respective states.
Moreover ,our Govt.never bother on lady 60 years to take work from country's prime institute CSIR. Nobody took account of their output ,justifying it's name Council of Scientific and Industrial Research, what industrial research they have done, how many new sustainable technologies they have developed so as to reduce our dependency on imports.
The MSME or Small scale sectors never thought of manufacturing some new products, every one became one more producer or seller of potatoes seller. N then lament there is no business no profit.
How can there be profit. Before selecting the product line we never do our proper homework n then select the product line.
There are many products even today has good domestic n international market, with assured buyers.
But then who is interested?
Anyway, the story is very long ,if you can share your mail id I can provide you more meaningful derails.