-Arvind Virmani, Economic Advisor, Ministry of Finance
"We are already seeing the impact. Our markets have fallen due to the drain of funds by FIIs. Cost of credit has moved up significantly in domestic/ international markets on the perception that lending now has equity risks."
-Abizer Diwanji, Head of Financial Services, KPMG India
Q. With the stockmarket on edge, is the great fall set to continue for some more time?
"We can expect some over-reaction to continue as markets are ignoring fundamentals due to global events. Even a small pinch of bad news is enough to send equities nose-diving."
-Pankaj Pandey, Head Research, Research Desk, ICICIdirect.com
Q. India's financial sector is insulated because we haven't opened up...?
"Advocacy for financial liberation will no doubt see a setback. We need to draw the right conclusions here... we can’t abandon moves to improve cost, quality of financial intermediation."
-N.K. Singh, RS member, ex-revenue secretary
Q. As global funding dries up, how will India Inc bankroll its investment plans?
"India needs investment of half a trillion dollars in all. As investors tighten their wallets after this turmoil, much more will have to be done to attract and hold investor interest."
Ron Somers, President, US Chamber of Commerce
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