Mumbai: A surge in the stock market, whose key index is closing in on the 13,000-point milestone ahead of Diwali, was only an indication and not a true reflection of India's economic health, Finance Minister P Chidambaram cautioned on Tuesday.
"Let us not be mesmerised by the numbers of the Sensex and Nifty," he said, addressing a distinguished gathering on the occasion of the launch of the South Asian edition of Harvard Business Review in Mumbai.
"These (surging Sensex and Nifty) do not reflect India's true economic health. These are but an indication and that too only of listed companies," Chidambaram said.
He highlighted the importance of unlisted companies, agriculture, partnerships and the likes of which contributed to the Indian economy.
"Let us not underestimate the contribution of agriculture and unlisted companies to the Indian economy," he added.
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