India is powerfull to tackle the Global Crisis

Global economy crisis is badly affecting to the financial stability of countries all over, India has no exception. The bitter experiences of Indian economy from the crisis in late 80’s and early 90’s prompting the economic institutions and policy makers of India to expect a worst situation from the global economic crisis which triggered from the recent financial crisis of USA. Given its economic integration with the world economy, India cannot remain immune to the global financial crisis. The Indian equities and currency markets have already been affected by these developments. Current micro economic climate has been characterized by rising domestic inflation, a weakening rupee, hardening interest rates, extreme volatility in capital markets and moderate to severe slowdown in leading global economies. Fortunately, the substantial driver of India's growth is still domestic consumption and investment isolating it further from the fall-out of the global turmoil. With a domestic saving rate in the range of 30-35 percent, among the highest in the world, and over 70 percent of the population below the age of 35, the strong foundation of India's economy remains intact, and will continue to power our future growth.