The coronavirus epidemic which started from Wuhan in the industrial province of Hubei had spread far and wide outside China. The disease had started its death toll outside China and with a startling rate of propagation WHO issued a global health emergency last week to curb the spread. This emergency gives nations to override trade agreements and impose export restrictions to China.
Chinese President Xi had yesterday urged the US to approach Corona with a calm head and alleged US hands behind some trade restrictions which could impede Chinese economic growth. India had just followed the trend of many nations imposing a ban on its citizens for traveling to China and had even expanded the ban to tourists who had recently visited China. The import of Chinese goods is also a part of these restrictions.
An import order of 1500 tons of Silk from China is now scrapped due to the import restrictions. The silk was for the buzzing Banaras, City famous for its silk sarees and garments.“The shipment of raw material was supposed to start by February 4 but it hasn’t due to the coronavirus. This is going to affect the life of skilled workers and overall business,” said Nishat Malhotra owner of a silk weaving factory. The silk for the industry comes from China, and the industry is now duck-walking with material scarcity.“The dupion silk, brought to India from China’s Sichuan province, is the raw yarn that weavers in Banaras use to make the silk sari. Though it’s produced in Bengaluru as well, there is a significant difference in price and quality,”
“Many artisans are jobless now and the future is blank as it is not sure when the restrictions will be lifted, as the epidemic still continues strong in China”, said Malhotra. The coronavirus will impact global business and make the economy more sluggish with long-term implications.
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