US slowdown holds few fears for India: Nath
India is optimistic it can ride out the fallout from any major economic slowdown in the US, Commerce Minister Kamal Nath said on Wednesday.
By Agencies |
DAVOS: India is optimistic it can ride out the fallout from any major economic slowdown in the United States, Indian Commerce and Trade Minister Kamal Nath said Wednesday.
"I do not see a major impact in India ... I look at it optimistically with the new global economic architecture, with there not just being one engine of global economic growth," Nath said at the World Economic Forum in Davos.
"From the last economic slowdown, the difference is that we now have China as a driver of economic growth, India, East Asia, sovereign funds and things are moving well."
The Davos gathering was also due to see a meeting on Saturday between trade ministers from around the world to discuss moving ahead with stalled talks to liberalise global trade, Nath said.
He said that one "silver lining" from the economic slowdown might be that this meeting sees a breakthrough.
"I do not see a major impact in India ... I look at it optimistically with the new global economic architecture, with there not just being one engine of global economic growth," Nath said at the World Economic Forum in Davos.
"From the last economic slowdown, the difference is that we now have China as a driver of economic growth, India, East Asia, sovereign funds and things are moving well."
The Davos gathering was also due to see a meeting on Saturday between trade ministers from around the world to discuss moving ahead with stalled talks to liberalise global trade, Nath said.
He said that one "silver lining" from the economic slowdown might be that this meeting sees a breakthrough.
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