West Palm Beach (HedgeCo.Net)- India has been looking to hedge funds and loans since this year’s decline began in industrial growth from 11% a year ago to 9.5% in the first half of 2007-08, coupled with a fall in the expansion of India’s exports demanded the rationalisation of credit rates by the central banks.
The Federation of Indian Export Organisations president Ganesh Kumar Gupta requested India’s policymakers to consider establishing a hedge fund to neutralize rupee appreciation along with an apportionment of low-cost dollar loans to exporters among small and medium enterprises.
"It seems that inflation has become the sole concern of the central bank," said V.N. Dhoot, president of the Associated Chambers of Commerce and Industry of India (Assocham), reacting to the central bank’s monetary policy review.
He also expressed concern for the small and medium scale sector, which in the absence of funding from equity markets and competition from cheaper imports was bearing the maximum brunt of a demand slowdown and cost of funds.
Alex Akesson
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