145;Global recession will not affect India146;

Explaining the present economic crisis that has enveloped the world and the reasons why it will not affect the country adversely, he said, 8220;Much of our economy depends on domestic trade which has become stronger over the years. Since a major part of the economic investments is in the form of domestic trade, there is very less percentage of outside investment in terms of the GDP.

I hope India will survive the crisis,8221; he said.

Chadha declined the prevalent meltdown to be a catastrophe for India which is emerging as a powerful world economy.

8220;The global recession cannot be deemed as any indicator of India8217;s sluggish economic growth. In fact, the commerce policies of the country are in sync with the growth tree projected by the economists,8221; he stated.

Chadha added: 8220;There is nothing inherently wrong with India8217;s economic growth. The significant decrease in inflation is testimony to this. The growth trajectory of India is an example for other nations like Nepal, who largely depend on agriculture.8221;

Talking about the ties between South Asian Nations, he said: 8220;Cooperation in the field of trade, education and commerce is the key to a harmonious existence. Moreover, since there are many common things between India, Pakistan and Bangladesh, the emotional and cultural ties should be strengthened.8221;