Financial crisis shouldn’t deter India: Anand Sharma

"India should remain confident in its action and continue achieving what we call shared destiny and goals," said Union commerce & industry minister Anand Sharma. He was at the National Institute of Design on Saturday. He said that the financial crisis should not
deter India.

Earlier in the day, Sharma inaugurated the Rajnagar Textile Mills, which has been revived at a cost of Rs160 crore by the National Textile Corporation, at Asarwa.

"The slowdown is impacting the global economy. All countries, whether big or small, rich or poor, are being affected by it. The crisis has worsened in recent times, which is reflected in the Indian exports data," Sharma said. He has warned that the global economic crisis is likely to worsen in the coming months and that it will also impact the Indian economy.

The minister said that demand had fallen from US and Europe, and more challenges lay ahead for the Indian economy. He, however, said that India was likely to be less affected by the slowdown than some other economies because of its huge domestic consumption. He also expressed confidence that the Indian economy would
continue to grow at a healthy rate.
Sharma, who also handles the textiles portfolio, said the Centre was committed to the industry. He also called upon the government and private sectors to work closely in the country's interest.