SME Times News Burea | 01 Aug, 2015
Minister of State for Finance, Jayant Sinha, in written reply to a question in Rajya Sabha on Friday, has informed that the Greece debt crisis could indirectly effect Indian economy.
"The Greece debt crisis is not likely tohave any direct impact on the Indian economy. There could be some indirect effects on trade flows depending on how European economies perform in the future," said Sinha.
The Indian financial markets have been stable and movements in equity markets have been orderly and in line with the economic fundamentals.
He said that in view of the fresh bailout agreement reached between Greece and its creditors, the prospects of stock market volatility looks unlikely in the near future.
Macroeconomic outcomes in India remains strong and provides the required resilience to cope with the external shocks.
Adequate foreign exchange reserves are there to manage the volatility that may arise in the exchange rate from such external stocks, he added.
