Sitharaman to meet industry bodies to assess coronavirus impact

-Several sectors, specially electronics, mobile and textiles, are expected to be hit due to supply restraints in China in the wake of the coronavirus epidemic. --The virus outbreak in China has claimed nearly 1,500 lives and infected over 60,000. The deadly virus has spread to many countries, including India.

 

New Delhi:
Finance Minister Nirmala Sitharaman will meet industry bodies on Tuesday to asses the impact of the coronavirus outbreak on Indian trade and businesses.

 

The virus outbreak in China has claimed nearly 1,500 lives and infected over 60,000. The deadly virus has spread to many countries, including India.


"To assess impact of Coronavirus, presently endemic in China, on Indian trade & industry, Finance Minister Smt. @nsitharaman would be meeting Industry associations on Tuesday along with Secretaries in the Ministry," the finance ministry said in a tweet.

 

Several sectors, specially electronics, mobile and textiles, are expected to be hit due to supply restraints in China in the wake of the coronavirus epidemic.

 

Meanwhile,the country's largest two-wheeler maker Hero MotoCorp on Friday said Coronavirus (Covid-19) outbreak in China has affected the supply of some components which could hit the production by around 10 per cent in February.

 

The company, however, said wholesale dispatches of vehicles to its dealers during the month remain unaffected.

 

"The ongoing issue of Coronavirus (Covid-19) in China has affected the supply of some components to our manufacturing facilities in India," Hero MotoCorp said in a statement. It further said, "This is likely to impact our planned production by around 10% for the month of February."

 

The company said any further impact on its production will depend on the developing situation in China.

 

"We continue to track the developments and keep evaluating our options," it added.


 


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