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Sub-prime crisis to impact portfolio inflows: CII

Written by: Staff
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New Delhi, Sept 17 (UNI) The sub-prime crisis will impact portfolio inflows in the country for the current year, but would not impact FDI inflows, a CEOs poll conducted by industry chamber CII said.

In addition, majority of the CEOs expected that there will be no impact of sub-prime crisis on domestic interest rates.

''Investments during the current financial year would be on track,'' according to 89 per cent of the CEOs.

However, CII said high interest rates are a cause for concern while majority of the CEOs expect that the interest rates should be reduced to encourage greater investment rates.

Given that inflation is under control, the poll revealed that 69 per cent of the CEOs expected the interest rates to be lowered to about 12 per cent from the current level of 13.25 per cent.

On the exchange rate front, the poll revealed that exchange rate of the Rupee for the dollar would stabilise.

UNI

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