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ANNEXURE 28 REPORT of DEPUTY CHAIRMAN of the COMMISSION Form

ANNEXURE 28 REPORT of DEPUTY CHAIRMAN of the COMMISSION Form

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let me say that I think uh in my view uh it's true that the rupee has depreciated a lot this has been a year in which uh currencies everywhere have been highly unstable but I think the underlying strengths of the Indian economy uh are more than what the rupe movement suggest now you know Market movements do not necessarily always reflect what is a long-term position so markets move up markets move down we're really focusing on the economy and I'm pretty sure that uh you will soon people will soon perceive that the basic strengths of the Indian economy are still there and I think when that is perceived Market signals will also change in the market I have to say you know this is a very difficult time for the whole global economy and when you're talking about external Capital flows they're very uncertain right now so I would not conclude anything from uh the reaction on the same day they're basically uh encouraging a larger flow of resources

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