During the 2008 global financial crisis, most Western economies collapsed or stagnated, while India stayed positive and recovered quickly, even as the US, Europe, and Japan struggled with recession.
Under Dr. Manmohan Singh, India was seen as one of the world’s most resilient major economies because of strong domestic demand, stable banking, and lower exposure to toxic financial assets.
That period showed the strength of a consumption-driven economy and policy stability during a global crisis.
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