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How Coronavirus Is Affecting The Indian Economy?

IndianMoney.com Research Team | Updated On Thursday, January 30,2020, 05:17 PM

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How Coronavirus Is Affecting The Indian Economy?

 

 

More than 170 people have fallen prey to the deadly coronavirus. India has even reported the first case of the coronavirus in Kerala. The epicenter of this deadly disease is the Chinese city of Wuhan. This city is now in lockdown with many foreign citizens including Indian students trapped there. The reason is to prevent the spreading of coronavirus across China and the World. India has kept a 423-seater Boeing 747-400 ready in Mumbai to evacuate Indian citizens from Wuhan at short notice. The coronavirus has spread as far as the US.

What is The Coronavirus?

The coronavirus belongs to a family of viruses that spread a range of illnesses in human beings. The simplest of diseases is the common cold and more severe forms are SARS (Severe Acute Respiratory Syndrome) and MERS (Middle East respiratory syndrome). The virus gets the name Corona because of its crown-like shape.

Chinese authorities state there are more than 7,711 confirmed cases of coronavirus in China. Infections have spread to at least 15 countries. Researchers are racing against time, to bring a vaccine for the coronavirus.

The coronavirus spreads as most viruses do. Infected people coughing and sneezing, touching an infected person’s hand or face or even doorknobs touched by an infected person.

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Symptoms of The New Coronavirus

  • Runny Nose
  • Severe Coughing
  • Upper throat infection
  • Sore Throat
  • Fever and High Temperature
  • Difficulty Breathing
  • Feeling Tired

The symptoms are similar to flu. The coronavirus can cause pneumonia in elderly people, people with heart disease or those with a weakened immune system. Severe cases lead to kidney failure and death. Symptoms appear within 2 to 10 days of contracting the coronavirus.

Precautions Against Coronavirus

  • Drink plenty of fluids and take a lot of rest.
  • Wash your hands with soap and warm water before eating.
  • Use an alcohol-based sanitizer.
  • Avoid contact with infected people.
  • Keep fingers away from nose, eyes and mouth.
  • Don’t touch surfaces at public places.

When it comes to coronavirus, hygiene is the key. If symptoms persist, contact the doctor. There are currently no antiviral drugs for the disease.

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How CoronaVirus Is Affecting The Indian Economy?

Coronavirus Affects Indian Metal and Mining Stocks:

China is the largest metal producer and consumer in the World. There is fear in the Indian mining sector that Coronavirus could affect the Chinese Economy. China contributes nearly half the total global demand and supply of metals.

Coronavirus Affects Indian Electronics Industry:

Coronavirus in China is affecting the Indian electronics industry. The smartphone and consumer electronics industry is staring at production cuts. Component supplies from China have been disrupted. How much impact this has depends on how long the disruption continues.

China accounts for 85% of the component value in smartphones and 75% in TVs. Mobile displays, TV panels, PCBs, capacitors; LED chips are all imported from China. Air conditioner compressors and Washing Machine motors are all; Made in China.

Chinese vendors have hiked component prices by 3-5% because of supply shortages. This could result in an increase in product prices in India.

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Coronavirus Affects Indian Automobile Industry:

It’s crucial for Chinese auto companies like BYD, Saic and Great Wall to participate in the Indian auto expo at Greater Noida. This is because top automakers like BMW, Audi, Ford, Honda and Toyota are staying away.

A large number of people are expected at the auto show and with a considerable number of Chinese present, it’s prudent to ask if thermal screenings are installed at airports.

Coronavirus and the Chinese mobile industry:

A number of Chinese Companies are doing business in India and have advised employees to avoid traveling to China. Traveling to Wuhan must be avoided except in urgent need. The Chinese mobile giant Xiaomi has asked employees to take precautions if they fall ill. Realme has suspended travel plans of all Chinese executives traveling to India and has issued an advisory to its Indian Team.

Drop in Travelling to South-East Asia:

Travel agencies are feeling the heat as Indians cancel leisure trips to Malaysia, Thailand, and Singapore. Customers are not confirming trips to Hong Kong, Macao, and Bangkok.

  • Taiwanese tech giant Foxconn has closed Chinese units till mid-February.
  • Apple could face production delays as its supply chain remains affected.
  • McDonald and Starbucks have closed several outlets in China.
  • Swedish giant Ikea has temporarily closed many Chinese outlets.

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