Assocham President says there is a need for lowering interest rates and logistics cost to make the domestic industry competitive. Photo: MintNew Delhi: It is a ‘myth’ that India’s labour is cheap and there is a need for lowering interest rates and logistics cost to make the domestic industry competitive, Assocham President Sandeep Jajodia has said. In fact, it has a lot of disadvantages in terms of the ease of doing business, in terms of interest rates, infrastructure is a very big problem. Our infrastructure cost, our logistics cost is many times of what my competitor faces,” Jajodia told PTI in an interview. He said the interest rates need to come down significantly and hoped the Reserve Bank will act in that direction.

Source: Mint May 28, 2017 10:52 UTC