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Scope for Indian textile, chemical sectors to grow: Findoc
14 Mar '20
1 min read
Pic: Shutterstock
The Indian textile and chemical industries have a big opportunity to grow as most of the Chinese companies are not working now due to the COVID-19 outbreak, according to India’s financial advisory firm Findoc Financial Services Group, whose managing director Hemant Sood said the supply chain network is disrupted on account of factory closures in China.
This has resulted in shortage of electronic goods, medicines and bulk drugs.
"Additionally no European and American company is importing from China. India has becomes the obvious choice in such a case. Billions of dollars worth opportunity is awaiting for these industries," a news agency quoted him as saying.
The novel coronavirus outbreak can become an opportunity to buy cheaper for consumers and Indian companies can also create opportunities for themselves, he added.
This has resulted in shortage of electronic goods, medicines and bulk drugs.
"Additionally no European and American company is importing from China. India has becomes the obvious choice in such a case. Billions of dollars worth opportunity is awaiting for these industries," a news agency quoted him as saying.
The novel coronavirus outbreak can become an opportunity to buy cheaper for consumers and Indian companies can also create opportunities for themselves, he added.
Fibre2Fashion News Desk (DS)
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