ABSTRACT. Surpassing the decoupling expectation, the global economic crisis has affected the Indian economy through various channels. Indeed, this brief survey of the effects of crisis suggests that India’s financial and real sectors are closely integrated with the global financial and export markets. So far crisis has shown just how it can undermine India’s growth rate, which in turn is likely to have long-term implications for economic and social developments in that country.

JEL: G01, F43, O53