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

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.

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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.