India Studying Effect of Dubai’s Debt Delay Plan on Its Economy

The spillover effects of Dubai's debt delay plan could lead to a downturn in India's economy. However, the direct impact of this is still being studied by India. Remittances from Dubai account for about 25% of the remittances in India. This coupled with the large amounts of receivables that Indian companies have with Dubai's companies could bring about a "W-shaped" economy.