Indian economy facing serious risk of plunging into crisis

Press TV: The Indian economy is facing further trouble. There is a financial crunch in the global markets. This will dry up the foreign investments in the country. Rising interest rates in United States has triggered the crisis. Investors are selling-off in the Asian stock markets. They have already withdrawn heavily from Thailand, Indonesia and Philippines. Indian rupee too has already depreciated by 8% in the last few weeks and that is going to push inflation.
The country imports most of it crude oil requirement. Oil is its single biggest import commodity. The retail prices of petrol and Diesel has been increased. Gold is another major import component.

Sanjay Sethi, Press TV, New Delhi

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