India is doing better than other economies: JP Morgan chief

For those worried about the financial crunch post recession, there is a bit of a breather. A statement in favour of India's current economic status by JP Morgan's chief executive might just raise hopes and waiver off the worries of the serviced and the business class population of India. Provided below is the story being published in various places about his opinion:

"Indian economy will not be affected as badly as other countries by the global financial crisis as it has a strong growth record, Jamie Dimon, chief executive of financial services firm JP Morgan Chase and Co, said.
'India is doing far better than most other countries... Most important that you (India) might slow down a little bit but you have still a pretty good growth, so I don't think it needs to do quiet anything like it has been done elsewhere,' Dimon said in an interview with NDTV.
He, however, said that the global economic scenario was alarming and the current crisis was 'worst since the great depression' of 1930s.
Referring to the great depression, he said: 'I don't think it will go that bad but that will be the worst.'
With the three major economies - the US, Europe and Japan - facing downturn, Dimon urged the emerging economies to be prepared to deal with its consequences.
'The three 3 major economies in the world are slowing down... that it will have an effect on them (emerging economies),' he said."