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How Will Indian Economy Survive Impact of Coronavirus Pandemic?
There
are several ways in which the Coronavirus outbreak in China will have
consequences for the Indian economy — directly and indirectly.
One, the lockdowns in Chinese cities — many of which are economic hubs with populations and GDPs equivalent to small countries — affects production and supply worldwide, given how integrated China is into the global economy. India is likely to suffer too — more than half of India’s imports in 19 categories come from China according to a State Bank of India report, and 14 percent of its overall imports. One of India’s top export sectors, pharmaceuticals, for example, depends heavily for key starting material, intermediates and active pharma ingredients from China.
One, the lockdowns in Chinese cities — many of which are economic hubs with populations and GDPs equivalent to small countries — affects production and supply worldwide, given how integrated China is into the global economy. India is likely to suffer too — more than half of India’s imports in 19 categories come from China according to a State Bank of India report, and 14 percent of its overall imports. One of India’s top export sectors, pharmaceuticals, for example, depends heavily for key starting material, intermediates and active pharma ingredients from China.
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