Wednesday, July 8, 2020
Home India China slowdown won't impact India: Jaitley

China slowdown won’t impact India: Jaitley

New York: India’s Finance Minister Arun Jaitley has said that the slowdown in the Chinese economy is not going to impact his country and India could become the “additional shoulder” the global economy needs to stand on.

“We are not a part of the Chinese supply chain,” he said here Monday. Therefore, “we are not impacted.”

He said that China’s slowdown did, however, affect Indian stock markets and the currency. But he did not see the fallout from China extending beyond them.

China, which had played a role in world economic growth, was now having an adverse effect globally, he said. After China “the world needs additional shoulders to stand on” and India could provide them he added.

Jaitley was speaking Monday at the inauguration of the Deepak and Neera Raj Center on Indian Economic Policies at Columbia University.

The global economic situation will be a challenge for India because it was beyond its control, he said. “The new normal is living in a period of turbulence and volatility,” he said. International crises used to come up every ten years or so, but now they were occurring more frequently, he added.

 

(IANS)

STAY CONNECTED

18,992FansLike
362FollowersFollow
1,781FollowersFollow

Most Popular

Here’s How you can Manage Flu at Home

The monsoon has begun, and while it brings relief from summer heat it also brings perils of humidity. With the rain showers comes the...

Top Selection Criteria for a Voltage Stabilizer

In our power grids, voltage fluctuation is a common phenomenon. But it also is a concerning one as it can harm sensitive electrical appliances...

Dalai Lama Turns 85, Tibetans Dedicate Year 2020 to him

In the wake of the coronavirus outbreak, the Central Tibetan Administration (CTA), also known as Tibetan government-in-exile, on Monday announced to dedicate this year...

Here’s What to Expect When You Catch a Flight from the Airport

Hustling sounds, frequent announcements, savvy travelers glued to their gadgets, emotional families waiting to receive or see-off their loved ones-- it's perhaps the opening...

A Must have Adventure Bucket List

The worldwide lockdown due to coronavirus has brought a screeching halt to every industry, including the travel and hospitality. With restrictions on international travel...

Picture Perfect Living Room Decor Ideas

A cosy and comfortable sofa set, a coffee table for tete-a-tete and a perfect TV unit to keep the entertainment mode on, all these...

‘Covid’ Now the most Searched Word of 2020

The term 'Covid' - the commonly used shorthand for Covid-19 or Coronavirus disease caused by the SARS CoV-2 virus - is the top word...

Beauty of Indian Culture: William Dalrymple on his Experience Living in India

India is one of the most religiously and ethnically diverse nations with the oldest culture in the World. The Indian culture varies like its...

Recent Comments