It's a very connected global economy - and India is a very connected economy. So, is any place in the world immune to economic shocks and recessions? No, neither is India. India is at a 6% plus growth base, and even if there were a significant recession in Europe and the US, it would have an impact, but the growth won't go down to low single digits or negative.
from Industry-Economic Times
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India poised for significant growth ahead as a result of global economic shifts and strong local policy