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SOURCE / COMPANIES
By GT staff reporters Published: Apr 28, 2021 06:53 PM
A textile workshop in East China s Zhejiang Province Photo: VCG
Affected by the COVID-19 epidemic, many enterprises in India cannot guarantee normal delivery, including textiles, active pharmaceutical ingredients (API) and electronic devices. In order to ensure the supply of goods, European and American retailers have transferred many orders originally produced in India to China.
IHS Markit, a London-based global information provider, said in a research note on Wednesday that the prolonged COVID-19 surge has negatively affected India s economic outlook.
Electronic manufacturing, one of the pillar industries that contributed nearly 20 percent to India s GDP, is among the hard-hit list, according to statistics from National Investment Promotion & Facilitation Agency of India.