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Is India a safe haven during recession?
By siliconindia
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Wednesday, 10 August 2011, 00:39 IST
Bangalore: With the recession talks all around us, the fear of another economic meltdown is slowly gripping the Indian public. Although, the third-world countries have seen an economic boom in the 21st century and a few of them have grown to a phase where they are listed among the largest economic powers of the world, the robust nature of the emerging economies are slowly vanishing and the economic scenario is rapidly changing. It's a worrisome fact that these countries, in many ways, are vulnerable to the economic turmoil in the international financial markets. The most probable impact will be a shortage of foreign capital to emerging markets.
It's here India and China stand tall as they look robust with a growth rate of 8 to 10 percent per year. The Indian market is said to remain attractive mainly for its structural factors such as the young population, improved economic policies and a large number of new middle class consumers. As domestic demand is the bigger driver of the Indian economy when compared to some of its peers in Asia, our economy is expected to remain the most insulated one in the coming future.
