In 2008 collapse of banking company "Lehman Brothers" brought the world to its knees. Today it is the world second largest economy. I don't think so that there is any economist in the world what can happen next. Even worlds largest stock exchange, in terms of capitalisation, has felt the tremors of the collapse.
Maybe a new crisis similar to 1929 will ensue or nothing will happen at all. It all depends on how China will play its next move and how the world will react. The result still remains enigmatic as no one can predict the sentiment of billions of people.
Despite of all this, our governor [RBI governor - Raghuram Rajan] is placid. It is because our country has built a stable macro-economic surrounding. The economic growth is reaching a double digit growth pace, exceptional reforms are carried out by the government, campaigns like 'Make in India' are aiding the country to humongous extent. The ripple effects caused by these factors and increase in FDIs, FIIs have made the country strong. The governor has given his word that country is in safe hands and hope india's growth will never be hampered.
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| India will rise Image from economic times |
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