The article discusses how India's economy was affected by the global financial crisis in 2008. It looks at how trade, capital flows, exchange rates, and foreign exchange reserves were impacted. Despite facing challenges like a slowdown in trade and outsourcing, India fared better than many other Asian countries. Capital flows returned quickly due to India's stable growth and interest rates. The country's banking system and regulations were praised for their cautious approach. With a large domestic market and government stimulus, India's economy is recovering well with growth rates improving.