Crisis in India
Expected GDP growth of India at 6.8% in 2008 and 5,5% in 2009. The Government has pledged up to $ 5 billion to help exporters. Some analysts expect a partial reorientation of India's economy to trade with other Asian countries, especially China, as the domestic demand, and on major infrastructure projects. According to Prime Minister Manmohan Singh, made in September 2008, the Indian government "attaches the highest priority to measures to isolate the country from the global financial crisis."
The measures taken by the devaluation of the Indian rupee, and the infusion of state funds into the economy. India's central bank lowered the basic interest rate.
In July and August 2008 observed decline in sales of new cars, mostly of local manufacture. In November, sales fell by 19%.
In December 2008, marked the first time in 15 years, the reduction of industrial production, against the background of negative investor response to the terrorist attack in Mumbai. There is a sharp drop in stock price, and the flight of foreign capital from India.