Date:13/07/2006 URL: http://www.thehindubusinessline.com/2006/07/13/stories/2006071303980900.htm

Back India Inc reposes faith in resilience of economy

Our Bureau

New Delhi , July 12

Even as a series of bomb blasts rocked the financial capital of the country on Tuesday, India Inc has reposed faith in the resilience of the business and the economy.

The Confederation of Indian Industry President, Mr R. Seshasayee, said, "We are shocked and grieved at the bomb blasts but we have complete faith in the resilience of the Indian people and the economy".

He attributed the rupee's fall against the dollar on Wednesday to a wider fall in Asian currencies following the bomb blasts. "We expect no adverse impact on business," he said.

Expressing deep anguish over the incident, Mr Bibek Debroy, Secretary General PHD Chamber of Commerce and Industry, said that the Indian economy has time and again proved its resilience.