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2010-05-12

Speculations are rife; Eurozone debt crisis may affect India

The apprehension on the effect that the debt crisis in the Eurozone economies will have on the Indian exports was expressed by Jyotiraditya Scindia, minister of state for commerce and industry, at a

The apprehension on the effect that the debt crisis in the Eurozone economies will have on the Indian exports was expressed by Jyotiraditya Scindia, minister of state for commerce and industry, at a function in the state capital.

If the crisis affects India,  it will put the interests of the MSME exporters in danger .He said that the MSME exporters will be in danger because they trade with the Eurozone economies.

The fear that the debt crisis will spread across the countries cannot be overlooked even if Greece receives a bailout deal worth, € 110 billion from the European Union countries and the International Monetary Fund. The Indian exporters and investors planning to expand their footprints in the Eurozone economy have their fears further raised.

It has been advised by Mr Scindia that the Indian export –oriented enterprises should be prepared to cope with the debt crisis. He added that these units should expand their market base as well as explore possibilities in new regions such as South Africa and Latin America.

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