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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.
Chinese pharma firms mull bypassing India in global supply chain amid raging virus wave
Chu Daye and Yin Yeping Published: Apr 27, 2021 08:53 PM
Photo taken on July 16, 2020 shows a COVID-19 care center at the commonwealth games village in New Delhi, India. (Photo by Partha Sarkar/Xinhua
Some Chinese executives with business ties to India are pondering efforts to cut their reliance on Indian companies by bypassing or replacing them in the global supply chain, after warnings of potential disruptions to various global industries from an economy-crippling pandemic peak in the South Asian country.
Although India s top exports to China are minerals, the country also exports large volumes of chemicals, textiles and electro-mechanical products to China, as some companies form a cross-border supply chain for certain goods.