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Business News

Feb 19, 2020
9:20PM

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

PTI
Finance Minister Nirmala Sitharaman is to hold a meeting of Secretaries today to discuss disruption in supply of raw materials from China after outbreak of Novel Coronavirus. Yesterday, the Finance Minister held a meeting with Industry and other bodies to assess the impact of Novel Corona virus 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 impact of the virus. She said during the meeting, chemicals, pharma and solar equipment makers were very vocal about disruption in 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 Corona virus. She added that it is too early to talk about impact of the virus outbreak on 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.

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