The corona outbreak is not taking lives but also choking up the Indian economy slowly. The Indian government has disrupted the imports and availability of mobile phones, television, and other electric products.
The death rate in china rise to 908 and the Indian government has closed the doors for Chinese products which could backfire the Indian economy. Indian students are brought back to India from China “we are back from hell” – Indian students.
Reports are affirming the corona apocalypse will bring deadweight loss to the big players of markets such as Vivo, Oppo, Apple, Lenovo, and Xiaomi.
How the virus will infect Indian markets?
- Over 85 – 90 % of mobile components are manufactured and imported from China.
- Also an alarming situation for TVs and other electrical equipment retailers and sellers
- Due to the constraints demand of mobile phones, TV and other gadgets, fresh supplies are required to refill the markets.
Indian roads were about to welcome the coming of EVs (Electric Vehicles), But seeing the fire on head the government has banned the imports from China which has subsequently hurdled the pace of Electric Vehicles in Indian markets.
If we go with the statistics
Norway has 22%, China has 2 % and India 0.2 % of EV connectivity.
The upcoming auto expo will come with a fear of the virus outbreak in India. There is a looming concern over the Indian government that the expats coming from neighboring countries including china could complement the entrance of coronavirus in India.
MG Motors, the manufacturer of hector SUV and on-road ZS electric is having a good bite of margin from Indian audiences. But, the company fears that the choked import from China will bring the shutter down. “It’s like a hand to mouth situation for us; we will be in a huge loss if the things don’t improve over the next six to seven days.
At this stage of adversity, companies like Xiaomi, Oppo, Vivo, and Lenovo are fingers crossed until the arrival of their next lot of supplies. The companies carried out an assignment to keep in check the existing stocks they have in back up.
The big shark, Apple is also in recession as the main components of I phone 7 and other models are manufactured and imported from China. Also, the cargo imports are now being hit and now survival is the new game plan rather than being ahead in a game.