indian-exporters-fear-losses-after-myanmar-earthquake

The recent earthquake that struck Myanmar and Thailand has raised concerns among Indian businesses, particularly exporters in Gujarat, which has strong trade ties with these nations.

 

Companies involved in pharmaceuticals, textiles, and chemicals fear potential losses due to infrastructure damage and communication disruptions, which could delay shipments and payments.

 

The earthquake, which occurred on Friday, 28th March, has caused widespread devastation in Myanmar and parts of Thailand. Indian exporters are particularly worried about its impact on trade, as both countries are key markets for various goods from India.

 

Gujarat, known for its strong economic links with Myanmar and Thailand, exports a significant volume of textiles, pharmaceuticals, and chemicals to these regions.

 

Industry figures suggest that Gujarat’s textile sector alone exports garments and grey fabric worth approximately ₹600 crore annually to Myanmar and Thailand.

 

The pharmaceutical industry accounts for around ₹2,100 crore in exports, while the chemical sector contributes ₹100 crore, primarily in dyes and industrial chemicals.

 

Additionally, the timber and wood trade, essential for the furniture industry, may also face setbacks due to supply chain disruptions.

 

Former PDEXCIL chief Bharat Chhajed, speaking to CNBC Awaaz, stated that he had been in touch with Myanmar’s Industry Minister, Dr Charlie Than, who confirmed significant damage in Mandalay.

 

The earthquake has affected telecommunication networks, making communication with businesses in the region extremely difficult.

 

Exporters fear multiple challenges in the coming weeks, including shipment delays, logistical hurdles, and potential payment disruptions. Chhajed warned that if the extent of the damage is severe, trade orders may slow down, payments could be delayed, and supply chains might suffer prolonged disruptions.

 

Business groups in India have urged the government to consider relief measures to support affected exporters. They have also called for diplomatic engagement with Myanmar and Thailand to ensure that trade operations resume smoothly once infrastructure is restored.