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FM to hold high level meeting to discuss disruption in supply of raw materials from China

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Finance Minister Nirmala Sitharaman is to hold a meeting of Secretaries today to discuss disruption in the supply of raw materials from China after the outbreak of Novel Coronavirus.

Yesterday, the Finance Minister held a meeting with Industry and other bodies to assess the impact of the Novel Coronavirus outbreak and any disruptions posed by it to India's trade.

Talking to reporters after the meeting in New Delhi, the Minister said, representatives from pharma, textiles, chemicals, auto, paints and telecom sectors shared their views with regard to the impact of the virus.

She said during the meeting, chemicals, pharma, and solar equipment makers were very vocal about disruption in the supply of raw materials from China.

The Finance Minister said, after the Secretary-level meeting a discussion will be held with PMO and some response will be announced at the earliest.

Ms. Sitharaman also said that there is no concern about price rise so far following the outbreak of Coronavirus. She added that it is too early to talk about the impact of the virus outbreak on the Make in India initiative.

The meeting was attended by senior officials from Union Ministries and Departments including Customs and representatives from various sectors. Business leaders from FICCI, CII, ASSOCHAM also attended it. (AIR NEWS)

42 Days ago

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