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Eversheds comment: India rate cut will support jobs growth and greater investment

Eversheds comment: India rate cut will support jobs growth and greater investment

  • India

    29-09-2015

    Commenting on today's latest interest rate cut in India, Parmjit Singh, partner and India expert at law firm Eversheds, said:

    "There have been calls for several months for the Reserve Bank of India (RBI) to reduce interest rates. Whilst the economy continues to move forward, growth is still not sufficient to create the 15 million additional jobs per year that are needed for young Indians entering the workplace for the first time.

    "The RBI needs to encourage greater investment by Indian businesses and a reduction in interest rates is one tool available. Ultimately, cutting rates again won't be enough in isolation but is a positive move that should encourage the Indian Government and Indian businesses to do more."

     

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