Chadha told The Quint that there are high chances that the world will go into a recession soon. Halan, however, disagrees that India is headed for a recession. "India is probably going to be the only country that will be undergoing a possible slowdown but not a recession. Technically, a recession is defined as two consecutive quarters of negative growth. India will be growing between 6 and 7 percent so we are in no way going to be affected by the global recession. We need to be careful. Its good to be prudent because the market is unpredictable, but not afraid."