Textile, chemical ind has big opportunity to grow: Findoc Group

Indian textile and chemical industries have a big opportunity to grow as most of the Chinese companies are not working right now due to coronavirus outbreak, financial advisory firm Findoc Group said on Thursday.

Findoc MD Hemant Sood said that on account of factory closures in China, supply chain network has got disrupted which resulted in shortage, especially in electronic goods, medicines and bulk drugs.

"Indian textile industry and chemical industry has a big opportunity to grow as most of the Chinese companies are not working right now. Additionally no European and American company is importing from China. India has becomes the obvious choice in such a case. Billions of dollars opportunity is awaiting for these industries," he said in a statement.

He added that coronavirus can become an opportunity to buy cheaper for consumers and Indian companies can also create opportunities for themselves.