Indian leaders take on global recession and its India effect

Bangalore: It has always been like 'when U.S. sneezes, the world catches cold; however, the rule was rewritten when India stood tall as the world was reeling under recession back in 2008. India could survive the global economic downturn with minor damages. The crippled world economy moved 2 years from then, dragging and crawling with severe financial crunch and it stands in the mid 2011 today gazing at an uncertain future that is clouded with fear of another global meltdown. Experts opined that India is still in the expansionary phase and has not yet reached that saturation point to head towards downturn. Mainly a domestic-ridden economy, India had minor fluctuations in the markets and it was the Indian MNCs who suffered the scattered effects of the economic downturn. However this time, the market looks prepared to meet any adverse effects from the financial slowdown in the debt-ridden Europe and American economies and our leaders are hopeful of our financial stability - Check out what they have to say: