Rising cases of respiratory illnesses in China, India’s fourth largest export market, could hit already slowing consumption demand and disrupt critical raw material supply such as Active Pharmaceutical Ingredients (APIs) and Electronic Integrated Circuits (EICs), crucial for India’s fast-growing electronic and pharmaceutical manufacturing industry, exporters said.
This comes at a time when India’s goods exports have seen a steep decline this year on account of weak demand from Europe and the United States due to high-interest rates following the Russia-Ukraine war and the geo-political tensions in the Middle East with the outbreak of the Israel-Hamas war.
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