Businesses now feeling the coronavirus pain amid a travel clampdown on China
Indian companies are bracing for production shortages, disruption in shipments and scarcity of critical bulk drugs and life-saving antibiotics amid a travel clampdown in China, which is struggling to contain the outbreak of the deadly coronavirus.
Countries across the globe, including India, have warned citizens about travelling to China, where the coronavirus has left 132 dead and infected more than 5,000 people. Despite measures to limit its spread, the virus has now infected people in 20 countries.
The ripple effect of the travel restrictions could soon hit India, which imports more than $70.3 billion worth of goods from China and exports products amounting to $17 billion. Traders told Mint that the disruption could create a shortage of goods and drive up prices, if the crisis prolongs.
