Joint plan between India & Russia may avert global crisis
New Delhi, DHNS:
According to Assocham, 32 per cent of the BRIC countries total external trade is done with the US and EU, which are currently facing the high risk of economic slowdown.
Russia and India should draw joint plan along with two other fast growing countries like China and Brazil for averting the global economic slowdown, triggered by the financial crisis in the US economy. Four BRIC countries- Brazil, Russia, India and China - need to push the trade within the large number of developing and emerging economies, suggests a study conducted by the Assocham in a run up to Russian Prime Minister Victor Zubkov’s visit to India beginning from Monday.
According to Assocham, 32 per cent of the BRIC countries’ total external trade is done with the US and EU, which are currently facing the high risk of economic slowdown. Of this, 13.6 per cent of the trade takes place with US, while 19 per cent is done with European Union.
Among the BRIC countries, Russia would be maximum exposed, as 49 per cent of its bilateral trade is directed towards the US and European Union.
