Covid-19 impact: Indian companies stare at prospect of airlifting raw materials

Published On: Monday, March 2, 2020 | By: Team KnowMyStock

The growing spread of COVID-19 and its impact on production in China have left Indian companies scrambling for options for getting the raw material. While airlifting raw materials from China is a measure that some firms are now considering, others are looking at neighboring countries such as Taiwan, Vietnam, and Thailand for their sourcing requirements. Categories where the pressure is felt the most include electronics, apparel, auto, and pharmaceuticals. Almost 70 percent of pharma raw material comes from China. And 18 percent of automobile components, 30 percent of tyres, and 45 percent of completely built units of consumer durables are imported from China.

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