Commerce Ministry To Meet Exporters To Discuss Opportunities Amid Virus Outbreak
Trucks wait in line as shipping containers stand in a terminal (Photographer: Qilai Shen/Bloomberg)

Commerce Ministry To Meet Exporters To Discuss Opportunities Amid Virus Outbreak

Bookmark

The commerce and industry ministry has convened a meeting of exporters and industry on March 3 to discuss export and import opportunities emerging on account of the coronavirus outbreak in China.

The meeting will be chaired by Commerce and Industry Minister Piyush Goyal.

An industry source said that as China was a global supplier of goods, huge export and import opportunities have emerged due to the outbreak of this deadly disease in China and other parts of the globe.

"The outbreak of this disease has reflected that depending completely on one country for goods is not a good idea and in such a situation, India is best placed to fill this global supply chain gap," the source said.

According to a commerce ministry analysis, there are as many as 550 products where Indian exporters can plug global supply gaps.

These identified products accounted for about 75 percent of India's exports in 2018. Currently, exports of these items are estimated at $243 billion.

Also read: India’s Deepening Slowdown Faces Fresh Risks from Virus

Further 1,054 products have been identified where India is dependent on Chinese imports.

In the analysis, the ministry has identified alternate countries from where New Delhi can import products disrupted by the outbreak in China.

The ministry has shared this list of made in India products which can be used to plug global supply line disruption with embassies.

The death toll in China's deadly coronavirus has climbed to 2,788 so far 25 with confirmed cases rising sharply to 78,824.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.