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This is an archive article published on September 15, 2008

Slowdown hits foreign borrowings

Corporate India may not be all gung-ho about the growth prospects of the economy as is evident from negligible share...

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Corporate India may not be all gung-ho about the growth prospects of the economy as is evident from negligible share of loans raised via external commercial borrowings ECB for modernisation, expansion and new projects in first four months of fiscal 2008-09, says a study by industry body Assocham

11.85 bnTotal funds raised through ECBs by Indian companies in April-July 07-08

6.52 bnFunds raised through ECBs in April-July 08-09

280The number of companies that raised funds through ECBs in April-July 07-08

128Their number in the same period in 08-09

8220;Dip in the GDP growth rate of India and global slowdown have kept business heads away from raising capital through ECBs for expansionary, project and modernization activities in the current fiscal8221; Sajjan Jindal, Assocham president

 

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