I was recently interviewed by CBC about how will India cope with recession. The CBC story is available at:
My take on this in the story was that saving is central to the Indian middle class consumers who would first and foremost save for years to build a house. In the absence of credit card-fuelled consumption, Indian consumers should be better prepared to deal with the current recession. Lastly, India can use the opportunity to invest in transport, water supply, sanitation and power infrastructure to create jobs and prime the economy for growth once recession is over.