Economy is strong enough to deal with eco meltdown: Rajan .

JALANDHAR: Prof Y S Rajan, Principal Advisor to Confederation of Indian Industry (CII) on Friday said that the country's domestic economy was strong enough to deal with the global slowdown. “India's strong point to deal with the meltdown is that the cou ntry's economy is not largely dependent on the export and the domestic economy is still strong but needed a boost only'', he said.

However, as compared to the situation in 90s, when global economy was in crisis, India's dependence on export has increased comparatively. There was not much threat to the growth of Indian economy, which was expected at the rate of seven per cent in the current fiscal.