This also affected us here in Denmark. Being a small, open economy, we benefited from the international upswing. The ample supplies of liquidity in the international capital markets enabled banks to supplement traditional deposits with foreign loans for financing strong growth in lending.
As this august audience would know, India in recent years has emerged as one of the most vibrant economies in the world. Not only has India survived many global shocks successfully in recent years, it also tops the list of fastest growing emerging market economies (EMEs) in the world.