India will be among lesser impacted economies due to global events, says Jaitley
Updated: Sep 08, 2015 05:23:10pm
New Delhi, Sept 8 (KNN) Finance minister Arun Jaitley today said India will be among the lesser impacted economies because of the global economic turmoil.
He said this was speaking to the media after the high-level meeting called by Prime Minister Narendra Modi with industry leaders.
Elaborating about the meeting, Jaitley said that 27 participants spoke about recent global events and their impact on India.
He said that most participants felt that we are going through a phase of volatility which might turn to some turmoil on the market.
"By and large, a major crux of the entire discussion was that in terms of its economy, India is relatively untouched," Jaitley said.
"The ease of doing business, cost of labour and capital, stalled projects were among important issued raised by participants at the meeting," Jaitley added.
Meanwhile, Chief economic advisor Arvind Subramanium said India is less vulnerable because exports to China are much less than other economies.
Several industry leaders also pitched for interest rate cut saying it would help them take risks and scale up investments.
The meeting was attended by Mukesh Ambani, Jaitley, Reserve Bank of India governor Raghuram Rajan, economists and state and private bank chiefs. (KNN Bureau)
He said this was speaking to the media after the high-level meeting called by Prime Minister Narendra Modi with industry leaders.
Elaborating about the meeting, Jaitley said that 27 participants spoke about recent global events and their impact on India.
He said that most participants felt that we are going through a phase of volatility which might turn to some turmoil on the market.
"By and large, a major crux of the entire discussion was that in terms of its economy, India is relatively untouched," Jaitley said.
"The ease of doing business, cost of labour and capital, stalled projects were among important issued raised by participants at the meeting," Jaitley added.
Meanwhile, Chief economic advisor Arvind Subramanium said India is less vulnerable because exports to China are much less than other economies.
Several industry leaders also pitched for interest rate cut saying it would help them take risks and scale up investments.
The meeting was attended by Mukesh Ambani, Jaitley, Reserve Bank of India governor Raghuram Rajan, economists and state and private bank chiefs. (KNN Bureau)
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