Global Financial Crisis and in Indian Scenario
|Dr.G.Brindha, Dr. M. Ganesan
Associate professor, Dept Of MBA, Bharath University, Chennai – 600073, India
Director – Centre for Entrepreneur Growth, Bharath University, Chennai – 600073, India
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The adoption of globalization in the financial sector creates integration into global economy. This provides an opportunity for the nations to reap fruits from free Trade, foreign capital and technology transfer. The access of vast capital and consumer market in the developed world can be powerful tools for economic growth. The Indian financial market scenario was critically analyzed under two sections. The first section aims to give bird’s eye view about the beginning of globalization and liberalization in Indian Financial market followed by Indian Financial Market road map 2020 which explains the opportunities and challenges of Indian Financial Market. A characteristic of the latest financial sub-prime mortgage in US crisis is the collapse of short term commercial paper market. In conclusion it can be emphasized that there needs to be well defined frame work which will withstand disruptions and lead the financial market towards growth and progression. Core elements like efficiency, stability, transparency, inclusion and sustainability will play a vital role in determining the growth. Standardizing and harmonizing the regulatory norms will help India position itself prominently on the global pedestal.