VISAKHAPATNAM: With its market practically closed since Chinese New Year on January 25, there has been no immediate impact in India on trade and commerce following outbreak of coronavirus in that country.
Most shipments from China have already arrived in December last and are likely to resume in March or April after the extended holiday. There is no immediate impact on imports, but if the situation continues for some more time, the impact may be felt after April, according to trade circles in the city.
As production in all segments in China has stopped following the extended holiday after outbreak of coronavirus, there will be scarcity of imports from China, particularly consumer goods, furniture and electronics such as computer chips, mother boards and other paraphernalia.
While coir fibre, high carbon ferro chrome, cotton, granite blocks and iron ore are exported from Visakhapatnam to China, raw material for pharma industries, furniture, nylon yarn, electronic goods, steel structure and machinery are imported from China to Vizag.
This apart, China contributes 23 per cent of shrimp exports of India and India exports marine products worth Rs 45,000 crore every year, they said. However, major imports are done by China from September to December ahead of Christmas and Chinese New Year. As the imported goods generally last till July, it is a lean period for exports to China, they said.
Andhra Pradesh Chambers of Commerce and Industry Federation (APCCIF) chairperson Sudheer Mulagada said China generally completes all shipments much before Chinese new year; there is no activity of any sort for over a week in the country.
Shipments begin only after the months of March or April. However, since most importers in the country are having excess stock of inventory with them due to slowdown in economy last year, there will be no immediate scarcity of goods imported from China, he said.
As per reports, in all likelihood of the coronavirus spreading to Hong Kong and Thailand, the impact is likely to be felt more by manufacturing sector. There is absolutely no problem now with exports to China as most exports will resume only after June/July every year, Shravani Shipping MD G Sambasiva Rao said.