The supply line across the globe have been disrupted because of the coronavirus impact in China and the commerce ministry has finalised its strategy to limit the impact of this disruption as far as Indian industry is concerned. In fact, the first meeting on this happened on February 14th and this Tuesday the second meeting will be convened by commerce minister Piyush Goyal where he will meet exporters and other select industry houses to fine-tune the strategy.
This strategy involves both exports and imports and an interim analysis done by commerce ministry has shown that in 550 products there is potential for India to plug the global supply chain gaps that have become evident after coronavirus outbreak in China.
In this 550 products, the commerce ministry estimates that India can export up to an additional $2.5 billion worth of goods. Currently, the exports in this 550 products is just $324 million.