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India under attack
Terror strike to affect India's image, say economists
Economists fear that terrorist attacks in Mumbai will adversely impact India's image as an investment destination at a time when the country was trying to shore up its depleting foreign exchange reserves.
“Terror strike is likely to have a significant and tangible impact on the economy. This would damage India's image because institutions like hotels are closely associated with business,'' said HDFC chief economist Abheek Barua. In short-term, he said, “ it would impact the stock markets and in the long term it may effect India's image as an important investment destination.''
India's stock markets, forex markets and commodity exchanges remained closed today on account of terror strike which paralysed normal working in the financial capital of the country.
“Terror strike is likely to have a significant and tangible impact on the economy. This would damage India's image because institutions like hotels are closely associated with business,'' said HDFC chief economist Abheek Barua. In short-term, he said, “ it would impact the stock markets and in the long term it may effect India's image as an important investment destination.''
India's stock markets, forex markets and commodity exchanges remained closed today on account of terror strike which paralysed normal working in the financial capital of the country.
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