25 January, 2021
25 Years of Outlook

No Smooth Sale

Fortunately, two weeks later, it seems that the Indian economy will ride out the tsunami effect. A detailed assessment of what'll happen in two areas—tourism and marine exports.

By Gauri Bhatia
January 17, 2005
No Smooth Sale
outlookindia.com
-0001-11-30T00:00:00+05:53
The weltering water walls that hit the coasts of several countries in South and Southeast Asia poured their sorrows onto an unsuspecting populace. Apart from spreading death and destruction, they shattered hopes, crushed dreams and dismembered optimism. The first instinct was to imagine a similar impact on several economies, including India’s. Fortunately, two weeks later, it seems that the Indian economy will ride out the tsunami effect.

Marine foods, which constitute nearly 3 per cent of India’s annual exports, may be hit marginally. Tourism and, hence, civil aviation, may continue to boom in case India is able to send the right messages to global travellers. And the cost of relief and reconstruction, predicts India’s FM P. Chidambaram, can easily be absorbed. (Although RBI governor Y.S.R. Reddy did admit "there’ll be some fiscal impact".) We present a detailed assessment of what’ll happen in two areas—tourism and marine exports.

TOURISM

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