New Delhi: On the eve of the crucial 'Brexit' referendum, both the government and the RBI said they are ready whatever the outcome.
The finance ministry said on Wednesday the country has sufficient foreign exchange reserves to handle any impact.
RBI Governor Raghuram Rajan said the central bank will infuse whatever liquidity is needed into the Indian market to keep it "well behaved".
On Tuesday, even US Federal Reserve Chair Janet Yellen warned that Britain's exit from the EU would have significant economic repercussions.
India's economic affairs honchos are a tad more positive.
"Current indications are that perhaps Brexit won't happen. In the event of Brexit happening, let me say very categorically that we are prepared to deal with all eventualities and I am saying so on the basis of three specific factors," said economic affairs secretary Shaktikanta Das.
The three factors: An adequate foreign exchange reserve of $360 billion, the fact that India continues to be an attractive FDI destination globally and that India's trade will likely be impacted only minimally.
"So all these things put together ... if there is any currency volatility, we should be able to deal with that," he said.
India has a significant trade volume with the UK as well as with the EU. It also receives large investments from Europe.
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