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Once the Indian auto sector in crisis, auto parts suppliers from China affected

Saturday - February 15, 2020 1:35 pm , Category : BUSINESS
Auto parts supply from China affected
Auto parts supply from China affected

Now Coronavirus arise as 'havoc' on the Indian auto industry

FEB 15 (WTN) - As you know that India's automobile industry was first and foremost affected by the global economic slowdown. The Indian auto sector continued to fall in sales for nearly 18 months due to the economic slowdown. The Indian auto sector witnessed a historic slowdown for several reasons, including the US-China trade war. But after a trade deal between the US and China, it was expected that once again the Indian auto industry would boom. But due to the spread of the Coronavirus infection in China, the fear of recession in the Indian auto sector is deepened once again.
 
According to a report by the Fitch Solution Agency, vehicle production in India could decline by 8.3 percent in the year 2020, and this may be due to the Coronavirus infection spreading in China. The agency has feared that if the Coronavirus infection spreads in India, it could lead to a decrease in vehicles made in India. For your information, let us know that the Coronavirus is a contagious disease, and the infection spreads from one person to another. In such a situation, factories and plants are closed in China to prevent the spread of the Coronavirus infection, so that people do not gather in one place and the infection could not spread. The Coronavirus infection does not spread, so people in China have been instructed not to leave the house.

The report said that India's health care system is weaker than that of China, and if the Coronavirus infection spreads in India, there is still no preparation in India to stop it. It is feared that if the Coronavirus infection spreads in India, it will spread more in India than in China. If the Coronavirus spreads in India, it can also cause the auto sector plants in India to shut down for a few days. It is natural that the production of vehicles can be reduced.

But now that the Coronavirus is spread in China, the Indian auto industry is also facing trouble. Let us know that since India imports a large number of auto parts from China, in such a situation, manufacturing in India can be reduced by 8.3 percent due to reduced production in China. Let us tell you that the Indian economy has not been completely removed due to the economic slowdown. In such a situation, the demand for vehicles is still low, and for this reason, the production of vehicles is decreasing. Let us know that India supplies about 30 to 40 percent of auto parts from China. If the production of auto parts in China is affected, it is natural that it will affect the production of vehicles in India.
 
Gradually, the Indian economy is recovering from the economic slowdown, and the biggest relief is to the auto sector. But as the Coronavirus spread in China is affecting the supply of auto parts, it is natural that it will affect the production of vehicles in India. But if the Coronavirus infection knocks in India, it is feared that there will be a significant decline in vehicle sales and production, which will be a major blow to the Indian auto industry after the economic slowdown.

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