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Rising rates: Govt working on concerns

The government on Thursday assured industry that steps would be taken to arrest the slowdown in industrial growth as rising input costs and costlier borrowing squeeze corporate profitability, forcing them to defer planned investments.

business Updated: Jul 14, 2011 22:59 IST
HT Correspondent

The government on Thursday assured industry that steps would be taken to arrest the slowdown in industrial growth as rising input costs and costlier borrowing squeeze corporate profitability, forcing them to defer planned investments.

“I am concerned about the cost of credit for exporters and industry,” said Anand Sharma, commerce and industry minister, after a meeting with members of the Federation of Indian Chambers of Commerce and Industry.

Indian companies raised concerns with regard to high credit cost, investment slowdown, skill shortage, high input cost, hurdles in getting various clearances and logistical bottlenecks.