Buyers cut orders, as the novel Coronavirus (COVID-19) spreads to the largest export market in Sri Lanka. Sri Lankan factories will be closed for 2-3 weeks, though some intend to prolong it before the raw materials arrive. Ships are unable to carry cargo from Chinese ports because there is no cargo to be carried and several trading have been cut from shipping lines from Chinese ports.
The outbreak in China impacted India’s drugs, electronics, textiles and chemicals manufacture and export. India supplied approximately 70% of active pharmaceutical ingredients and nearly 90% of other parts of China’s mobile telephones. In order to cope with the repercussions of a coronavirus outbreak which has disrupted supply from China, Indian companies are calling for cuts in import duties on Antibiotics, mobile parts and other goods. Credits may be provided to companies who are able to commence production of products which can be supplied to home consumption immediately with a backstop guarantee facility.