India Express – Policy-makers in New Delhi and Mumbai are not convinced, but global investment banks and hedge funds with significant interests in India, are deeply concerned that a blowing over of the European sovereign debt crises will adversely impact the country’s financial system.
They have sounded out mandarins in North Block and Mint Street that European banks exposure to India could be as high as 14-15 per cent of the gross domestic product (GDP). In absolute terms, approximately $220-225 billion.
