PHDCCI expects GDP over 6.5%

The industry is hopeful of a rate cut by the Reserve Bank, and expects India's economic growth at more than 6.5 per cent in the current financial year, PHD Chamber of Commerce and Industry (PHDCCI) CEO Ranjeet Mehta said Tuesday.

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He also outlined three major challenges faced by the country's micro small and medium enterprises (MSMEs), including access to affordable finance; technology and market access.

"As far as rates are concerned, I think that RBI has definitely looked into it. They have reduced the repo rate. But we are, we are just waiting for the next RBI decision on this. And industry is hopeful that when inflation, we have seen the inflation data, which is within the zone of RBI, and we hope that there would be some kind of rate reduction in future, very soon," Mehta said.