India imports almost 70% of its bulk drugs and intermediates — the chemicals that make a finished dr1 Jul 2020 20:31
India imports almost 70% of its bulk drugs and intermediates — the chemicals that make a finished drug work — from China
It buys 37% of electronic components, 45% of consumer electronics, and 44% of air conditioner and refrigerator parts from China
India has its largest trade deficit with China; imported about $69 billion worth of goods last year from China and exported $18 billion, according to data compiled by Bloomberg
The Society of Indian Automobile Manufacturers warned in a statement that the congestion at ports could hurt manufacturers. Karbonn’s Hasija said freight forwarders are refusing to lift more material from China because they don’t have space to store the shipments.
Pankaj Mohindroo, chairman of the India Cellular and Electronics Association, which represents companies such as Apple Inc. and Micromax Informatics Ltd., said the industry body is in talks with the government to resolve the situation.
“We have been assured that the government does not want any disruption in these trying times,” he said, “and all actions will be taken in the interest of the industry and nation.” – Bloomberg