While financial markets globally sit up and take note of the US government shutdown, Dalal Street remains unperturbed. Market veterans said the impact of the US shutdown on the Indian market will depend on the duration. Should the impasse end quickly, Dalal Street may go unscathed. Funding for US federal agencies ran out on Saturday midnight after the Democrats and the Republicans failed to meet a Friday midnight deadline to reach consensus on immigration. The Engineering Export Promotion Council of India (EEPCI) on Saturday said the US shutdown is bad news for the Indian exporters, since the American economy is among the largest destinations for exports. The US federal government earlier faced a similar shutdown in September 2013 under President Barack Obama.

(Economic Times)