‘Signs of improvement are visible in India'

Both India and China seem to have succeeded in limiting the impact of the credit crisis, according to credit insurer Coface. Economic growth in China will remain high in 2009 at around 7%. However major structural changes are being implemented and in order to address the crisis, China is focusing on highlevel industries. The Indian growth, says Coface, is more balanced and signs of improvement are visible. “In 2009 Q1 growth was 5.8% against 5.1% in the last quarter of 2008 and the level of overdue payments should remain relatively stable,” says chief economist Yves Zlotowski.