Markets in India to gain in future despite global meltdown

ANI
11 Oct 2018, 20:55 GMT+10

New Delhi [India], Oct 11 (ANI): Amidst a stable Indian stock markets outlook, the developments in the United States are affecting the markets across the world, said a top Finance Ministry official on Thursday.

"The US companies fear their competitiveness to be hit due to the US-China tariff war," the Finance Ministry official said while elaborating on the higher rates that are affecting the profitability of the US companies, thereby impacting US markets.

The ministry official added that India stands to gain in the future despite the global meltdown. "Indian equity market down only 2.5 percent today, which makes the markets reasonably stable," he added.

He added that the International Monetary Fund (IMF) has downgraded the Gross Domestic Product (GDP) projections of the US and China.

However, the IMF on Wednesday said that risks to the global financial system have risen over the past six months and could increase sharply if pressures in emerging markets escalate or global trade relations deteriorate further.

Talking about the Indian Rupee, which touched a fresh record low of 74.46 per dollar on Thursday, the Ministry official said that Rupee should now start strengthening from the current levels.

"Our main worry is on Rupee, Current Account Deficit (CAD) balance of payment. The government has a strategy in place to deal with Rupee, CAD if need be," he added.

"National Housing Bank has rightly decided to increase refinance window," he added while commenting that the move has helped ease liquidity among housing finance firms. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kansas City Post.

More Information

36 ℉

Topeka

International

Section

Polling day violence in Afghanistan kills 67, injuries 126

KABUL, Afghanistan - Despite a threat of violent attacks, thousands of Afghans bravely headed to the polls on Saturday to ...

55 killed in sectarian violence sparked at Nigerian market

KADUNA, Nigeria - A spat that broke out between porters in a Nigerian town sparked violent sectarian clashes between young ...

U.S. to pull out of nuclear with with Russia

WASHINGTON DC – U.S. President Donald Trump announced on Saturday that the United States is withdrawing from its landmark Intermediate-Range ...

Judiciary will have the final say, says Saudi HRC

RIYADH, Saudi Arabia – Saudi Arabia was insisting Saturday that its judiciary has full autonomy in investigating, and potentially prosecting ...

Former prime minister of Netherlands is dead at age 80

AMSTERDAM, Netherlands – The former Dutch Prime Minister Wim Kok, who helped forge the country's famed consensus-based politics and oversaw ...

No skepticism over Saudi actions in Middle East

JEDDAH, Saudi Arabia – While the international community was expressing scepticism about steps taken by Saudi Arabia in the case ...

Business

Section

Movie Review

Jabberwocky [Blu-Ray]

Featured story

Ireland's Keywords Studios acquires Canada's Snowed In

DUBLIN, Ireland - Following its successful acquisition of Hollywood-based Blindlight, Irish video-gaming company Keywords Studios has now announced its latest accomplishment. Keywords r ...