India’s imports could hit as much as 20 percent due to the coroner virus posing a worldwide threat. Specifically, six major imports from China were affected. China relies on electrical equipment, engineering equipment, R-Con chemical, plastic, optical and surgical equipment. The import of these products has completely stopped.
As a result, construction, transportation, chemicals and mechanical products suffer. Only five percent of India’s exports to China. However, imports are high. India’s total imports in 2018 are $ 50,700 billion. About 14 percent of that, $ 7,300 billion, was imported from China. China first announced that the situation would be stable after February 14th. However, the situation has not worsened till now. Imports of organic matter have been greatly impacted. Only 40 percent of R-Canic chemicals are imported from China. The rest of the imports are from the United States and Singapore. Similarly, the import of electricity is 40 percent. The current level of imports seems to be increasing by 40 percent.
54 percent of optical and surgical products depend on China. Of these, 20 percent is entirely dependent on China. Similarly, the pharmaceutical industry is heavily dependent on China for raw materials. Industry experts say that India relies on China for 3 to 5 percent of raw materials.