With the outbreak of coronavirus in India’s national capital Delhi, flight and railway reservations to the city have dropped by 11% in the last two days.
With the outbreak of coronavirus in India’s national capital Delhi, flight and railway reservations to the city have dropped by 11% in the last two days. Along with Delhi, two other cities — Jaipur and Agra — have also witnessed fewer reservations in both railways and flights as compared to the two-day period a fortnight ago, The Indian Express reported. “We have seen an average of 10-15% decrease in train bookings and a 5-10% decrease in flight bookings to these cities in the past 48 hours,” the newspaper quoted an Ixigo spokesperson as saying.
The spread of China-originated deadly virus has also taken a toll on other domestic industries as well as manufacturers scramble to get the supply chain in order. India imports key raw ingredients from China and these supplies are drying up due as Chinese economy remains shut. “All exports have been completely stopped and it is apprehended that it may cause substantial disruption in the supply chain of the country,” trade body CAIT said in February. For particular industries such as pharma and electronics, finding an alternative to China supplies is difficult.
However, India is not merely an importer of Chinese goods but also exports own goods to the neighbouring country. India also stands to lose billions of dollars as exports to the dragon nation remain scarce. According to a research report by CARE Ratings, India is expected to lose a major chunk of export revenue if China’s economy remains shut down for a year. “Considering that total exports in FY20 remain at the same level as FY19 and based on our earlier stated assumption of 80% loss in Indian exports to China, the total export loss would be around $13.4 billion,” the report said last week. In fact, the effect of coronavirus to the diamond industry alone stands at $19 billion by 2020-21, a CRISIL Ratings report said. India sent goods worth $16.7 billion to China in FY19.
Meanwhile, a Paytm employee has been found positive for coronavirus in Gurgaon and the digital payments company has shut down offices in both Noida and Gurgaon. The country now has 29 confirmed cases of the coronavirus.