Greek economic crisis unlikely to impact India: Jayant Sinha

NEW DELHI: The economic crisis in Greece is unlikely to impact the Indian economy as its fundamentals are strong, government said today.

"The economic crisis is Greece is not likely to impact Indian economy. Macro fundamentals of the Indian economy are in a strong position with adequate foreign exchange reserves to manage the volatility of exchange rate," Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha.

He also said that as of now there is no proposal to provide economic assistance to Greece.

Fears of possible Greece's exit from the euro currency union -- which could have resulted in adverse consequences for the global financial markets -- have receded with the debt-laden country agreeing to strict austerity measures in return for more funds from Europe.