"I spoke to the RBI governor. We don't expect any fall out (of Thailand's move) on India," Finance Minister P Chidambaram said on the sidelines of a CII function on infrastructure in New Delhi.
He, however, said the government has to wait and watch to see what the Thai authorities do now. The Central Bank of Thailand on Tuesday imposed currency controls on international investors, triggering major bear pressure on the Indian stock markets.
The 30-share index, Sensex, tumbled 349 points at the close on Tuesday and 511 points during intra-day trading. The Thai government later partially lifted the controls, confining them to only bonds and debt papers and exempting equities markets from it.
The markets in India are volatile today with the Sensex gaining 186 points in early trade and declining by 106.21 points at about 11.45 hrs.
Certain quarters in markets have expressed fears that Thailand's move may prompt foreign investors to review their bullish outlook on emerging markets as a whole, including India.
