India’s Economic Adviser: Coronavirus outbreak in China opportunity for India to expand exports
On the negative impact of the China coronavirus on India, the country’s Chief Economic Advisor (CEA) Krishnamurthy Subramanian said that the coronavirus outbreak in China provides an opportunity for India to expand exports and follow an export-driven model.
Key Quotes:
“It is very hard to say how this will manifest in terms of India's trade relations with China. If we go by the experience of SARS (outbreak), India was not affected that much.
China imports a lot of components, parts, assembles and integrates and then exports them. India has been following the same pattern in terms of mobile manufacturing in the country. So, if one looks from this perspective, it provides a good opportunity for India.
The economic survey has projected it to be in the range of 6-6.5 per cent in the next fiscal. This has been done by collating many pieces of evidence using business cycles which prevailed in India.”
- USD/INR Price Analysis: Close to five-month-old support trendline following weekly Doji
- China’s NHC: Places in Hubei that have a coronavirus outbreak should immediately take the same measures as Wuhan