India : 2008 Article IV consultation : staff report : staff statement : public information notice on the Executive Board discussion : and statement by the Executive Director for India
Like most countries in the world, an increasingly globally integrated India will not be spared significant spillover effects from the present crisis. Its financial markets have sold off considerably and external funding for banks and corporates, which has risen in importance in recent years, has been sharply curtailed, thus jeopardizing investment and growth. The global crisis also coincides with a turning of the growth and credit cycles in India
