The RBI has disappointed the exporting community by keeping the repo rate unchanged even though it acknowledges that global trade remains subdued, TS Bhasin, Chairman, EEPC India said.
According to Bhasin, a recent RBI survey had brought to light the worsening financing conditions for the manufacturing sector.
“Under such a scenario, there was a strong case for a reduction in the interest rates by the RBI. Though exports have been looking up, global risks have gone up . Under these circumstances, the exporters would remain at a disadvantage against the Indian competitors,” Bhasin pointed out.