President Pranab Mukherjee has expressed confidence of Indian economy will bounce back soon.Addressing the annual meeting of the Bengal Chamber of Commerce and Industry in Kolkata today he said there is no reason for gloom to prevail as stepsare being taken to boost investments and contain fiscaldeficit. He said Indian economy's fundamentals remain strong. He said stabilising the rupee is foremost in the minds of the policy makers. He said strong measures have been initiated to strengthen the external sector.