India's Outbreak Will Exacerbate Global Supply Shortages

　【Shipping】

　　 According to data provided by the United Nations World Trade and Development Conference, approximately 80% of the world’s trade cargo is shipped by sea. Guy Platten, secretary general of the International Chamber of Shipping, said that of the approximately 1.7 million sailors around the world, more than 200,000 are from India. Many of these Indian sailors hold positions that require important skills.

　　 CNN quoted Platten as saying that he "hopes" that the epidemic in India can be alleviated, otherwise it will lead to a large shortage of sailors and "interfere with the global supply chain."

　　 With some countries banning the entry of flights from India, it will be difficult for Indian sailors to reach ports around the world. Last year, during the global spread of the new crown epidemic, nearly 200,000 sailors were stranded for several months. They called their ships "floating prisons."

　　【Medicine】

　　 In addition to affecting shipping, India’s new crown epidemic will drag down the supply of medicines. More than 60% of vaccines sold globally are produced in India. The Serum Institute of India is the world's largest manufacturer of vaccines.

　　The Serum Institute of India agreed last year to produce up to 200 million doses of the new crown vaccine for about 90 countries and regions. However, given that only 2% of India’s population has completed the new crown vaccination, the Indian government and the Serological Institute are now giving priority to providing vaccines for their citizens.

　　 At the same time, according to CNN, India is the world's largest supplier of generic drugs; 90% of prescriptions in the United States are generic drugs.

　　【Textile】

　　 India is one of the largest textile exporters. This industry is now experiencing severe labor shortages.

　　Wozil Consulting provides data showing that in the clothing major cities of Delhi and Bangalore, the labor absenteeism rate in the clothing industry is as high as 50%; last year, the consumption and exports of the clothing industry in India decreased by 30% and 24% respectively.

　　 Wozier said: "The numbers for 2021 are now difficult to predict because we are not sure when the epidemic will end."

  【Financial Services】

　　 In the past few decades, some large international banks and accounting firms have transferred a large number of information technology and operational positions to India.

　　 According to data provided by the National Association of Software and Service Companies in India, nearly 4.4 million people in India are engaged in information technology and business process management.

　　Some companies have taken measures to reduce the impact of the epidemic in India, such as moving related jobs to other countries, encouraging employees to work from home, or delaying deadlines for various jobs. However, if an employee needs to take care of a sick family member, it is still not easy to complete the work even if they work from home. In addition, handling sensitive corporate and customer data at home faces security and data protection challenges.