Domestic demand has been a strong feature of India's recent growth, meaning it was not heavily dependent on U.S. demand.
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Wednesday, January 23, 2008
US recession to have limited impact on India:Kamal Nath
On 23 January 2008, Trade Minister Kamal Nath while speaking at an economics panel at the annual World Economic Forum in Davos, Switzerland stated no economy in the world can be fully insulated from a U.S. recession, but the impact on countries such as India this time would be limited.
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