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No concerns of price rise, measures to deal with Coronavirus impact soon: FM Sitharaman

Nirmala Sitharaman made the remarks after a review meeting with industry bodies to assess the impact of Coronavirus on India's trade and business.

By: Express Web Desk | New Delhi | Updated: February 18, 2020 6:44:55 pm
No concerns of price rise, measures to deal with Coronavirus impact to be announced soon: FM Finance Minister Nirmala Sitharaman interacting with Industry bodies at the event. (Source: Twitter/Finance Ministry)

Finance Minister Nirmala Sitharaman Tuesday allayed fears of price rise due to the coronavirus outbreak and said it was too early to talk about its impact on ‘Make in India’ initiative.

“Pharma, chemical and solar equipment makers vocal about some disruption due to Coronavirus outbreak. There are no concerns about price rise so far, but it is too early to talk about impact on Make in India initiative,” the Finance Minister was quoted as saying by PTI.

Sitharaman made the remarks after a review meeting with industry bodies to assess the impact of Coronavirus on India’s trade and business.

Based on comprehensive consultation with the secretaries of different ministries, Sitharaman said some measures would be announced shortly and added that it will be done in consultation with the Prime Minister’s Office.

READ: Here’s how coronavirus is likely to impact the global economy

The Finance Ministry had tweeted on Saturday, “To assess impact of Coronavirus, presently endemic in China, on Indian trade & industry, Finance Minister Smt. @nsitharaman would be meeting Industry associations on Tuesday along with Secretaries in the Ministry,” the Finance Ministry said in a tweet.

There have been reports of several sectors, especially electronics, mobiles and textiles to have been hit due to supply restraints in China in the wake of the epidemic.

-with PTI inputs

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