Mumbai, Aug 9 (ANI): Siddharth Kuwawala, a financial analyst based in Mumbai, has predicted that inflation might trickle down with a global decrease in crude oil prices.
"The surrounding area outside India does not seem to be good. Everyone is facing some or the other problem. In India also, we are facing problem of Inflation and interest rate. This I think should cool down because now crude (oil) prices are coming down slowly, which will have a positive impact," said Kuwawala.
"Our subsidies will go down and I think, even RBI will integrate and now it looks like, if the crude price comes down substantially, it will cool the inflation and from year on, RBI may not increase interest rate which will be positive for Indian economy," he added.
Kuwawala further said that rainfall in the country would calm down inflation on a rapid basis.
"I think if rainfall is good that will help to cool down inflation. To somewhere, India is on a much better position than the developed nations," he said.
The RBI earlier in a statement said that it was monitoring the global situation and would 'respond quickly and appropriately to the evolving situation'.
The RBI said the Indian banking system does not face any immediate liquidity stress, and vowed to ensure adequate rupee and forex liquidity.
Meanwhile, Kuwawala stated that the global economic tremble has opened doors of opportunities for Indian investors.
"I think year on, whatever market goes down further, reacting to this negative news, it is creating an opportunity for Indian investors. But the horizon has to be long-term minimum one and a half to two years and investment should be in fundamental scripts, which I have been doing, performing well and which are leaders in their respective industries," he said. (ANI)
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