The financial crisis which started in the United States has become a global issue. From Asia to Europe, countries are busy trying to deal with the knock-on effects.

In India, hundreds of flight attendants gathered in Mumbai on Thursday to protest against job cuts at one of India's largest airlines.

Jet Airways called off its expansion plans on Wednesday, saying it would cut flights by 15 percent and lay off 800 flight attendants in response to high fuel costs and slowing demand.

India has little direct exposure to the mortgage-backed securities that spawned the current global financial crisis.

But the emerging economy is suffering collateral damage in the form of tight credit, plunging currencies, tanking equity markets, slowing growth, and falling commodities prices.

The crisis also casts a shadow over Russia's agricultural revival.