India has fairly large reserves to tide over the turmoil in the currency markets, a top government official has said, dismissing concerns over the decline in forex reserves. "There has been a depletion as inflows have come down and the trade deficit is higher... I don't see this as a concern, India has fairly large reserves to tide over this situation," economic affairs secretary Ajay Seth said on Tuesday. He added that most of the global currencies are under pressure and suitable measures will be taken in the due course.