This is a daunting challenge and has indeed been challenged, but the Indian regulatory approach to financial innovation has always endeavoured to be on these lines. In concluding, I would once again like to convey gratitude of the Reserve Bank of India to Ecole des Mines de Paris for recognizing and appreciating us for the very reason we were criticized not so long ago.
Global trade, whose influence on the Israeli economy is very large, is growing at a very moderate pace, and despite the fact that we expect its growth to accelerate in the coming year, it will still be relatively moderate.