China's economy is badly affected by the corona virus. World countries have stopped buying and selling products from China. China, the second largest economy in the world, has been hit hard by the coronavirus in the field of industry, manufacturing and trade.
Building, transport, chemicals, and engine manufacturing are likely to be affected, though Corona's overall impact on India's trade is expected to be moderate.
India has 5 major imported goods that rely heavily on China-electrical equipment, mechanical equipment, organic chemicals, plastics, and optical and surgical instruments. Analysts say that 28 per cent of India's imports could be affected. India imports from China 40 per cent of its electrical equipment. India imports a third of its equipment and machinery from China.
It is said that the cost of TVs in India could increase by 10 percent in the next month due to the disruption of TV panel production in China due to coronavirus virus.
Television companies are increasingly importing panels from China because of the low prices. Coronavirus has caused shortages of production and reduced panel supply.
The cost of the panels has risen by up to 20 percent, with TV production companies deciding to increase the cost of TV sets. The supply of compressors for AC and fridge devices is also restricted and their prices are expected to rise.