Ongoing developments in Greece have only indirect implications for India and their impact, if any, is difficult to quantify, Finance Secretary Rajiv Mehrishi said today.


"We are only indirectly affected by the Greek crisis. If there was any adverse impact (it) is difficult to quantify... Then there would be a positive impact also which is also difficult to quantify," he told reporters.


Greece, which is going through a financial crisis, has reached a desperately-needed bailout deal with the eurozone which will prevent the country crashing out of the European Union having a single currency. Greece's leftist Prime Minister Alexis Tsipras has agreed to tough reforms in return for a three-year bailout worth up to 86 billion euros (USD 96 billion), the country's third rescue programme in five years.


Indian stock markets reacted positively to the news of bailout package with the benchmark BSE Sensex rising by over 300 points in the intra-day trade.