"We have the ability to sustain a growth rate of about eight per cent. And we will do so," he said at a conference in New Delhi.
Exuding confidence that India had the "resources and the wisdom to grapple and deal" with the crisis, Singh said all instruments of public policy -- monetary, fiscal, public investment and exchange rate -- "will be deployed" to tackle it.
Noting that the global economy was going through "choppy waters", the Prime Minister said "we can and we will survive this crisis".
Replying to questions after delivering the inaugural address at the Leadership Summit, Singh said the government had "anticipated the global slowdown" and taken measures in the budget.
Observing that the global economy was passing through a "deep crisis", the economist-turned-politician said "we cannot pretend that we are not affected by it.
"The crisis was not made in our country but elsewhere. ... Due to the interdependency (of the world economies), we are in the same boat," the Prime Minister said.
Noting that global problems required global solutions, he said there was a need for a global safety net.