Nath on why India was not hit by financial crisis

The Indian economy has emerged almost unscathed from the global economic crisis that has ravaged many nations, said Union Minister of Surface Transport Kamal Nath on Tuesday.

He was speaking to entrepreneurs at the Indian Consulate in New York.

He said that India's economy is estimated to grow 7.1 per cent in 2008-09, at a time when global slowdown is expected to hurt other nations more.

He said that India's fundamentals remain strong and it is the ideal place to invest in.