What gives confidence to India watchers within & outside the country is that significant steps are being taken in the policy and execution space of the country. H.  Summing up  40. Financial crisis, as a phenomenon, has been recurring at frequent intervals – every crisis is new but the impact is, in many ways, similar.
For India, external sector vulnerabilities are relatively lower than in the past but adverse spillovers of global macro-economic and geopolitical developments on the domestic sector cannot be ruled out. Hence, it is necessary to remain focused on the structural and cyclical challenges arising through the 7C channels in the context of our increasing inter-linkages with the global financial landscape.