One of the bright spots in India’s manufacturing sector is in severe stress because of the Coronavirus lockdown and over-depence on China. The chemical industry, worth $163 billion, which covers more than 80,000 commercial products, is now struggling.
India sector has long been dependent on China as a source of critical imports. China, known as ‘the world’s factory’, is India’s biggest source of intermediate goods.
The industry is expected to be highly impacted by the loss of imports from China.