Global rating agency S&P on September 20 said even though the U.S. and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy.
"Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you [India] are a net importer of energy. But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F. Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
