COVID-19: Chinese firms in India suffered USD 50 mn loss so far

The Chamber of Chinese Enterprises in India is a major stakeholder in Indo-China bilateral trade relations.

Speaking at a roundtable on coronavirus and India-China relations, Wang said: "According to estimated statistics from our chamber, till now only 2,000 people of Chinese enterprises are staying in India and the loss to Chinese companies is over $50 million and we believe it is still increasing."

Several Chinese companies, including technology firms, have operations in India with a major presence. The outbreak and spread of coronavirus has affected the trade between the two countries besides hitting imports from China.

China is a major source of supplies for several industries in India, including electronics and automotive, among others.

Kunal Lalani, Co-Founder, Kirin Crayons, said: "Today there is an uneasy calm prevailing across businesses in India and China as close to $87 billion worth of bilateral trade is at a potential risk. As we brace for the impact of coronavirus, we stand with the people, businesses and brands of China."