US financial crisis will not 'spill over' to India:Mulford

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New Delhi, Oct 2 (UNI) The US financial crisis will not ''spill over'' to India. However, because of inter-dependence and inter-relations of countries, India is not immune either, US Ambassador to India David Mulford said today.

Addressing a press conference after the US Senate last night approved the Indo-US nuclear deal in Washington, the Ambassador said here that the way the global system works, with countries having trade and economic relations, nobody is immune or detached.

That did not mean that the US financial crisis would have a direct impact on individual countries like India because all countries have different systems.

There may be a slowdown in investments and some fallout. But it wuld not have a major impact, specially on countries like India.

''I would not say that the financial crisis will spill over into India...India has a different banking system...

However, the way the global system works with trade and economic relations, there is a large degree of inter-relationship and inter-dependence...Nobody is immune either,'' the Ambassador said in reply to a question.

UNI RB RP HT1844

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