Two powerful earthquakes of magnitudes 7.7 and 6.4 on Richter scale struck Myanmar on Friday, leaving at least 107 dead and 350 injured. According to the United States Geological Survey (USGS), the first earthquake struck around lunchtime and its epicenter was located 16 kilometers (10 miles) northwest of Mandalay, Myanmar, at a shallow depth of 10 kilometers. The second one struck shortly after.

The tremors were felt as far away as Bangkok, Thailand, and Yunnan province of China. A major Naypyidaw hospital of 1,000 beds capacity was designated as a 'mass casualty area’, with wounded people getting treated on the side of the road and several IV drips hanging from the gurneys in some places.

Myanmar’s ruling military declared a state of emergency in six regions and states. “The state will make inquiries on the situation quickly and conduct rescue operations along with providing humanitarian aid,” it said on social media.

Impact in Thailand

A 30-story skyscraper under construction in northern Bangkok collapsed, trapping at least 43 workers, according to police and medical personnel. The building was reduced to rubble and twisted metal. Local media also reports of a mosque collapsing, leaving three people dead under the rubble.

Thailand's Department of Disaster Prevention reported that the quake was felt in nearly all regions of the country.

Thai Prime Minister Paetongtarn Shinawatra declared a state of emergency in Bangkok following the severe tremors. The Stock Exchange of Thailand suspended all trading for the afternoon session due to the earthquake's impact.

Economic Concerns

The earthquake has raised concerns among Indian exporters, particularly in Gujarat, which has significant trade ties with Myanmar and Thailand. China’s trade too could be largely impacted due to the mass destruction caused by the earthquake.

Indian businesses dealing in textiles, pharmaceuticals, and chemicals fear potential disruptions to shipments and payments due to infrastructure damage and communication challenges.

Gujarat holds significant export value to these countries, with textile exports valued at Rs 600 crore, pharmaceutical exports at Rs 2,100 crore, and chemical exports at Rs 100 crore annually.

Myanmar is a major exporter of petroleum gas for China and Thailand, with export value crossing $3.15 billion in Chinese gas export. It exports another $3.44 billion worth of gas to Thailand.