RTTNews - The Centre for Monitoring Indian Economy or CMIE in its report on the state of the economy said the domestic demand for goods and services in India is likely to pick up during the fiscal 2010, on expectation of sharp fall in commodity prices globally and reduction in prices of branded goods following the excise cut, media reports said.
The report added that most of the demand-related problems that the industry faced following the worsening of the global liquidity crisis in September 200 were temporary in nature.
The monetary measures taken by the Reserve Bank of India, resulting a fall in interest rates, and improvement in availability of credit are expected to create a favorable atmosphere for demand to grow, it said.
The global liquidity crisis has affected only a small section of the Indian industry, mainly the export-oriented industry, the CMIE report said, adding, the rest have not been affected much by the global slowdown.
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