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India can fill up export space vacated by China over coronavirus: Assocham

It said Indian exporters of electronics, pharmaceuticals, speciality chemicals and automobile segments depend on China for raw material and are facing supply constraints

Topics
Coronavirus | Exports | China

Press Trust of India  |  New Delhi 

imports, exports, retailers
According to Assocham Secretary General, India can also tap the opportunities in segments like agriculture and carpets

With the Chinese economy getting impacted due to the outbreak, can push its in the global to fill up the space vacated by the neighbouring country, industry body said on Sunday.

It said Indian exporters of electronics, pharmaceuticals, speciality chemicals and automobile segments depend on for raw material and are facing supply constraints, but there are several areas where there are increased opportunities for domestic traders.

"Barring a few segments, a large number of engineering from can fill up the market vacated by China; so is the case with products like leather and leather goods," Secretary General Deepak Sood said.

He said can also tap the opportunities in segments like agriculture and carpets.

"We also need to scale up several of our sectors to compete effectively with even when the Chinese exporters are able to normalise their global supply chain," Sood said.

He also said while the health emergency of the epidemic is a matter of grave concern for the entire world, it is incumbent on larger economies like India to fill up the gaps in the global market and there is a need to approach the issue with a clear strategy.

According to the latest (Purchasing Managers' Index) data, China's factory output level in February has plummeted to the lowest in about two decades, and the consequences are bound to be felt in the global market, said.

"While India's merchandise have contracted by 1.93 per cent between April-January period of the current fiscal, the coming few months can provide our exporters greater market access in the absence of usually aggressive and competitive Chinese suppliers," it added.

First Published: Sun, March 01 2020. 10:52 IST
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