Greece Unlikely to Impact Indian Economy

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Indian Economy is expected to remain unaffected from the Greece Debt Crisis as it has a marginal exposure to this island; Fund Managers said on Monday.

Indian Economy

“Despite what happened in Greece, the domestic market has not been affected since we have only negligible direct linkage with Greece,” UTI MF group president for sales and marketing  Suraj Koeley told the reporters.

As most of the debt of Greece is owned by European governments, the so the crisis is not such a big event for India.  Although the fixed income head Murthy  Nagarajan from Quantam AMC stated that the European central bank would buy the bonds of other EU members. So it all depends on how the EU (European Union) nations like Spain and Italy react to these developments.

“In the domestic context, the impact is not expected to be high since exposure is very low. However, the Greece issue would increase risk aversion towards emerging markets, which would affect capital flow to our markets in the short-term, ”Mr. Nagarajan said.

Indian rupee gained four paise against US Dollar for the fifth day in a row. Debt markets and equity closed in the green despite a gap-down opening.

The investors are taking this as an opportunity as this is the most suitable time to buy equity and debt.

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