Indian economy 'resilient in face of terrorism'

LONDON - Mumbai ad executive Madukar Sabnavis today told Campaign that the Indian economy will not be harmed by last week's terrorist attack.

Madukar Sabnavis...regional head of thought leadership at Ogilvy & Mather, Mumbai
Madukar Sabnavis...regional head of thought leadership at Ogilvy & Mather, Mumbai

Sabnavis, regional head of thought leadership for Ogilvy & Mather Asia Pacific, said that although tourism may be hit in the short-term, Indians will remain resilient in the face of adversity.

He said the country's economy remains strong, thanks to the potential of its one billion population.

Sabnavis said: "It is ironic that on the Friday that Mumbai was besieged, the Government announced that, despite the global meltdown, India Inc had grown 7.7 per cent in the second quarter."

"The fundamentals of the Indian juggernaut are strong and buoyant; Indian hospitality and friendliness to our guests - foreign investors- will always exist and the Indian entrepreneurial spirit will always flourish, ensuring India will continue to be a place to turn to for business."   

Read Madukar Sabnavis' entire article, assessing the economic effects of the Mumbai atrocities