“India should really stay confident in its action and continue achieving what we call shared destiny and objectives,” mentioned Union commerce & industry minister Anand Sharma. He was at the National Institute of Design on Saturday. He mentioned that the financial crisis should really not deter India.

Earlier in the day, Sharma inaugurated the Rajnagar Textile Mills, which has been revived at a cost of Rs160 crore by the National Textile Corporation, at Asarwa.

“The slowdown is impacting the global economy. All countries, whether big or small, rich or poor, are being affected by it. The crisis has worsened in recent times, which is reflected in the Indian exports data,” Sharma mentioned. He has warned that the global economic crisis is likely to worsen in the coming months and that it will also impact the Indian economy.

The minister mentioned that demand had fallen from US and Europe, and more challenges lay ahead for the Indian economy. He, however, mentioned that India was likely to be less affected by the slowdown than some other economies because of its huge domestic consumption. He also expressed confidence that the Indian economy would
continue to grow at a healthy rate.
Sharma, who also handles the textiles portfolio, mentioned the Centre was committed to the industry. He also called upon the government and private sectors to work closely in the country’s interest.