Economists discount major impact from sanctions

Another leading economist, K N Kabra of the Indian Institute of Public Administration IIPA, said defence related sanctions would have no impact on India but economic sanctions, if imposed by the USA and other developed countries, could affect business sentiments and the liberalisation process to some extent.

quot;Implications of any sanction will not be serious,quot; D H Pai Panandikar, economic advisor, RPG Enterprises, said adding any trade sanction would be considered as a last resort.

The Director General of National Council of Applied Economic Research NCAER Rakesh Mohandeclined to comment and said, quot;It is too premature to say anything. We should wait and watch how the world reacts.quot;

Withdrawal of external assistance to India by USA and opposition at multilateral funding forums like International Monetary Fund IMF and World Bank would not affect India8217;s economic interests much,quot; Srivastava said.

quot;If India signs the comprehensive test bank treaty, there would be no problem,quot; he said.