Exports help Morbi ceramic players survive COVID-19
Despite the recent shutdown of Morbi units on account of COVID-19 breakout, the growing exports would continue to offer a lease of life for Morbi units once the lockdown is lifted, said ICICI Securities in a recent report. With the deferral of ADD on Indian ceramic tile exports to GCC countries and newer export markets - US, Indonesia and Thailand opening up, Morbi exports are expected to gain significant traction over the next 2-3 years. This, along with the likely improvement in their cashflow situation and their likely competitive pricing in domestic space (on the back of expected decline in gas prices in the near term), would enable them to stay affloat even in these testing times," said Nehal Shah, research analyst of the company.
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