Coronavirus impact

China’s loss, India’s gain

US firms show interest in bulk purchases from India

China’s loss, India’s gain

Coronavirus outbreak in China has put Indian exporters in an advantageous position.

Shivani Bhakoo

Tribune News Service

Ludhiana, February 21

Coronavirus outbreak in China has put Indian exporters in an advantageous position. Most of the countries are snapping their business relations with China (may be for the time being), which exports goods worth $2.4 trillion, and looking up to India to meet their demands for various goods.

This is the right time to strike a chord. The material in transit from China has reached the respective destinations (countries) but the warehouses in the US and Europe are getting emptied, as there is no production. Hence, there are no fresh deliveries from China because of the spread of deadly coronavirus. Now these markets have started looking for products from India.

Gurmit Singh Kular, president of FICO

Badish Jindal, president of Federation of Punjab Small Industries Association (FOPSIA), said the United Kingdom was one of the leading importers of Chinese goods. The country imported hosiery cloth and yarn. “Recently when I visited London, many companies showed good interest in imports from India,” said Jindal.

Recently, a company from the US contacted local manufacturers and showed interest in bulk purchases of cosmetics, electronics, such as TVs and refrigerators, and sanitary items from them.

According to the company representatives, the stocks of Chinese goods in all these countries are dwindling and for fresh stocks, they are looking up to India now.

“India has a very small size of trade compared to China. At the same time, our country has a strong potential of exports of fasteners, scaffolding, machinery garments, hosiery, agricultural equipment, food products and animal meats, etc,” said Jindal.

Gurmit Singh Kular, president of FICO, said the units, having good infrastructure and that can manufacture high-end products, would certainly benefit as European markets, which never looked at India, were now placing orders of bicycles with the local manufacturers.

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