New Delhi, Feb 28 (SocialNews.XYZ) 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.
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.
Kunal Lalani, Co-Founder, Kirin Crayons, said: "Today there is an uneasy calm prevailing across businesses in India and China as close to $87 billion worth of bilateral trade is at a potential risk. As we brace for the impact of coronavirus, we stand with the people, businesses and brands of China."
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz