COVID 19: Brutally suffering! Whopping $50 mn losses by Chinese firms in India

It's a massive loss for Chinese firms in India! Chinese enterprises operating in India have so far suffered losses of over $50 million due to the coronavirus outbreak and are likely to be impacted further, according to Alen Wang, Chairman, Chamber of Chinese Enterprises in India, as per a report in IANS. The Chamber of Chinese Enterprises in India is a major stakeholder in Indo-China bilateral trade relations.

Speaking at a roundtable on coronavirus and India-China relations, Wang said: "According to estimated statistics from our chamber, till now only 2,000 people of Chinese enterprises are staying in India and the loss to Chinese companies is over $50 million and we believe it is still increasing."

Several Chinese companies, including technology firms, have operations in India with a major presence. The outbreak and spread of coronavirus has affected the trade between the two countries besides hitting imports from China. China is a major source of supplies for several industries in India, including electronics and automotive, among others.

Recently, the Modi government had issued an update on Novel Coronavirus (COVID 19) which talks about New Travel Advisory. Ministry of Health & Family Welfare, Government of India, issued additional directions in view of the evolving situation related to COVID-19 being reported from other countries. Besides the travel advisories, following additional directions are issued:

- Indians are advised to refrain from non-essential travel to Republic of Korea, Iran and Italy

- People coming from Republic of Korea, Iran and Italy or having such travel history since 10th February 2020 may be quarantined for 14 days on arrival to India

- For any technical queries, may contact on  24*7 Health ministry Control Room helpline number  +91-11-23978046 or email at [email protected].

Earlier, , the Confederation of Medical Associations in Asia and Oceania (CMAAO) had issued an updated advisory for travelling.

14-day quarantine

According to K.K. Aggarwal, President CMAAO, "If you are travelling abroad, keep the possibility of being quarantined for 14 days in any country."

Four levels

Travel advisory is divided into four levels:

Level 1 on all countries -- Exercise normal standard hygiene precautions

Level 2 in all affected countries -- Exercise a high degree of caution

Level 3 all countries with secondary cases -- Reconsider your need to travel

Level 4 in affected parts of China and Korea -- Do not travel