President Donald Trump speaks at a business roundtable in New Delhi, India, on Tuesday. Credit: Mandel Ngan/AFP/Getty Images

President Donald Trump has expressed optimism that the novel coronavirus will be a short-term problem, which won't have a lasting impact on the global economy.

I think that’s a problem that’s going to go away," Trump said at the start of a business roundtable in India's capital New Delhi on Tuesday.

The President, who is in India on a two-day state visit, noted a plunge on Wall Street Monday, but said futures were higher ahead of Tuesday's market open.

"Things like that happen and you have it in your business all the time," he told gathered executives. "It had nothing to do with you. It was an outside source."

Trump outlined the administration's efforts to contain the virus, claiming the US had "essentially closed the borders."

We’re watching very carefully," Trump said. "We’re fortunate so far and we think it’s going to remain that way."

He also heaped praise on Chinese President Xi Jinping for his efforts to contain the virus, despite the leader coming under withering criticism from others.