India's economic fundamentals strong: FM

Amid afall in the stock markets in the wake of economic problems in the US, Finance Minister Pranab Mukherjee on Mondaysaid India'sfundamentals are strong and the government is ready to address any concern thatmay arise, while admitting there could be some impact.

"We would focus on encouraging greater domesticconsumption and give impetus to the drivers of domestic growth", Mukherjeesaid while talking to reporters outside Parliament.

The government, he further said, will fast-track theimplementation of the pending reforms while keeping a close watch oninternational developments.

India,Mukherjee said, is in a better position than other nations to meet thechallenge posed by the developments in the US and the Eurozone.

The Finance Minister expressed confidence that India could seefaster and greater FII inflows unlike after 2008 meltdown, in view of thehigher returns that global investors could get here.

"The recent developments in the US and theEurozone have injected certain uncertainty in global markets. Thesedevelopments could have some impact on India. But as India's growthstory is intact and its fundamentals strong, we are in a better position thanmany other nations to manage the challenge," he said.