Thursday, Sep 29, 2022
Outlook.com
Covid-19

From Critical Drugs To Auto Parts, Zips To Solar Panels, How Coronavirus Has Hit Supply Chain

World economy is now interconnected and the impact of coronavirus is expected to be more pronounced compared to SARS outbreak in 2003

From Critical Drugs To Auto Parts, Zips To Solar Panels, How Coronavirus Has Hit Supply Chain
Photo by Getty Images
Stock markets across the world have tumbled after the outbreak
From Critical Drugs To Auto Parts, Zips To Solar Panels, How Coronavirus Has Hit Supply Chain
outlookindia.com
2020-03-06T12:33:08+05:30

Pragya Automobiles’ owner Ankit Mishra is in a quandary. At his factory in Delhi’s Okhla region, he can either buy raw materials at double the prices, close down until supplies are normal, or maintain a break-even level, that is, neither earn profits nor incur losses. At present, he has decided to stick to the third option. Several Indian businesses in sectors such as auto, pharmaceuticals and electronics, which are already under pressure due to the current slowdown, are likely to be squeezed further.

In China, close to 100 million workers—a third of the migrant workers ­employed at manufacturing hubs across the country—are still under quarantine, which is impacting production and economic growth. Other important manufacturing nations, such as the US, Italy, South Korea and Japan, face a similar situation. Their economic growth is likely to be lower than what was estimated earlier. Globally, stock markets are in a tizzy; several tanked in the past few weeks. The Indian Sensex was down 7.5 per cent from its high in February 2020.

Outlook Newsletters

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.