India’s exposure to troubled European Union countries like Greece, Italy and others is not that big,said Finance minister Pranab Mukherjee in Mumbai. However, he expressed a concern about the volatile global financial scenario and warned that there could be prolonged repurcusions.
“Current round of troubles coming from sovereign default threats from Greece, Italy and other EU countries. India's exposure is not very big,” he told a gathering of bankers in Mumbai.
He said that collectivism from developed and emerging economies in decision making will help coming out of crisis. Many experts have urged fast growing emerging countries like India and China to make efforts to help shore up troubled EU countries.
In a series of programmes in the financial capital on Saturday evening, the finance minister has sought to reassure the street that the Indian financial system remained well capitalised
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