India safe from Japan quake; no direct impact seen on economy

*India Safe From Quake*

Japan was hit by an enormous earthquake that measured eight.9 on the Richter scale, on March eleven. This was followed by a ten meters high Tsunami wave that washed away most of Northern Japan. the closest town to the epicenter is that the coastal town of Honshu, a hundred thirty km (80 miles) from the quake center. Japan's capital town Tokyo is situated 373 km (231 miles) away.

The earthquake conjointly set an oil refinery ablaze and most of Japan's airports and plants are finish off .

The Nikkei 225 average closed down one.7% at 10,254.43 points once the earthquake struck.

This quake was approximately twenty four.4 Km deep inside the ocean and there are warnings of a potential Tsunami hitting multiple nations as well as, Hawaii, Philippines, Indonesia and Russia. Fortunately, India has not been included within the list of states that are in impending danger of a Tsunami.

The Indian markets tumbled in reaction to the present news. The Sensex lost additional that two hundred points whereas the Nifty slipped below 5450. Experts, however, say that such a natural calamity wouldn't impact the Indian markets for too long and is unlikely to possess an instantaneous impact on the economy on the total, however it might have a deep impact on the Indian auto and banking sectors.

There are fears but, that a Tsunami might impact a number of India's oil refineries on the shores, affecting India's oil and also the country's export activity.

In 2004, an earthquake with a magnitude between nine.1 and 9.3 on the Richter scale rocked the Indian Ocean that triggered a series of devastating tsunamis along the coasts of most landmasses bordering the Indian Ocean, killing over 230,000 individuals in fourteen countries, as well as India.