India has reacted cautiously to the financial crisis in Dubai, caused by debt repayment crisis of a state firm, saying it would examine the extent of the problem, but maintained that no impact is visible as of now. The Commerce and Industry Minister Anand Sharma has said that he does not think some development in real estate in Dubai, will have an impact on the Indian economy. Talking to reporters in New Delhi, he said that as far as India is concerned, the housing, real estate sector and construction industry are all doing well. The Finance Secretary Ashok Chawla said that the issue will have to be examined to see the possible implications, if any, for the Indian economy, the people and corporate.Expressing serious concern over the crisis in the Dubai World company, Kerala Finance minister TM Thomas Isaac said, it appears that global economic recession is finally taking its toll in the Gulf region. He said in Thiruvananthapuram that any adverse impact of the crisis on major construction companies in the Gulf would seriously affect Kerala as majority of their workers are from Kerala. Cochin Port Trust Chairman N Ramachandran said the crisis would not affect the progress of the Vallarpadam International Container Transshipment terminal being developed with the help of Dubai Port World, a subsidiary of Dubai World.The state-run Dubai World stunned the global financial world on Friday when it announced it needs to restructure its debt, estimated at 59 billion dollar to pre-empt default and asked creditors for a six-month deferment.