India’s financial turmoil
Mumbai had a minor earthquake last night but the impact of the U.S. economic crisis on India is about the same: tremors but not devastation. The Finance Minister gave assurances that the crisis will not hit India and that’s because much of the country’s capital and investment is self-generated. Shares shot up sharply and made up for the losses. This markets expert says it’s difficult to assess the impact yet in India. The losses may not be known now but confidence is felt in the India economy.
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