Kolkata, Sept 20 : Despite global economic recession, External Affairs Minister Pranab Mukherjee feel India is going to emerge as a major economic player, as he said a balanced policy would help the economy to grow faster and will take care of the grievances of agriculturists.

He said the centre is taking steps to ensure food security, industrialisation and for creating employment opportunities for the unemployed in the country.

Mukherjee was addressing the annual general meeting of the Bengal National Chambers of Commerce and industry.

He said the country has already been recognized as one of the important players internationally because of its economic strength and added that India and China would emerge as major powers.

The Minister said that the Centre does not see any crisis in the country in the wake of volatility caused by turmoil in the US financial market triggered by collapse of Lehman Brothers.

He also gave assurance that the US meltdown would have no impact and the government was in a position to tackle it. He, however, did not comment on the Singur issue.

The President of the Bengal National Chamber of Commerce and Industry, K. K. Nawada welcomed the center''s initiative on loan waiver to farmers to the extent of Rs 71 thousand crore. (ANI)