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India insulated from global financial crisis: Chidambaram

Davos: “If the U.S. sneezes, India need not catch a cold!” was New Dehi’s message to global business and political leaders as they prepared to leave this snow-clad mountain resort after spending five days worrying about a possible recession in the world’s largest economy.

While it is not the first time that India has articulated this theory, Finance Minister P. Chidambaram used the World Economic Forum to get across the message that India is fairly insulated from the global financial crisis, which he said was the result of “failure of regulators and lack of regulations.” — PTI

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