Coronavirus Could Impact India's Automotive Manufacturing Sector, an Industrial Info Market Brief

The spread of the coronavirus could lower global economic growth by about 0.1 percentage points, according to the International Monetary Fund's baseline scenario. India's automotive industry could be impacted, as China supplies much of India's automotive components. Automotive manufacturers like Hero and TVS Motors have announced production curtailments for February and March. India still is optimistic that a large number of automotive projects will start construction and see completion this year. Industrial Info is tracking 83 automotive sector projects worth $4.37 billion that are planned to kick off construction this year.