New Delhi, Dec. 6 -- Engineering Export Promotion Council (EEPC) Chairman Ravi Sehgal has said that pause in rate cut by Reseve Bank of India (RBI) has come in as a disappointment for exporters.
''Pause in the interest rate reduction by the Reseve Bank of India (RBI) in its monetary policy review on Thursday has come in as a disappointment for exporters because they are up against very difficult global trade environment and the cost of borrowing is a major drain on them,'' EEPC Chairman said in a press release on Thursday.
He further said the policy statement of the RBI itself acknowledges the fact that the global economy is not in the best of environment and how Indian exports have been declining.
''In this backdrop, it is paramount ...