Impact of Greece Crisis on Indian Economy!
The Greece debt crisis is not likely to have 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.
The Indian financial markets have been stable and movements in equity markets have been orderly and in line with the economic fundamentals. 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 remain strong and provide 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. This was stated by Jayant Sinha, Minister of State in the Ministry of Finance, Government of India.
