India's financial sector is not deeply integrated with the global financial system, which spared it the first round … morphed in to a full-blown global economic downturn, India could not escape the second round effects. The global crisis has … affected India through three distinct channels: financial markets, trade flows, and exchange rates. The reversal in capital …

rebalancing has special significance for Asia. While India, like other Asian economies, suffered only an indirect impact from the … same connotations for India as it does for other East Asian economies. However, this paper argues that, given its large … domestic market, India could help other East Asian economies in their efforts to achieve greater export diversification and …