KV Kamath in an exclusive interview with ET NOW

Media News

Mumbai, August 10, 2011

Mumbai, August 10, 2011: With the Indian markets freezing to global headwinds, Mr. KV Kamath, Chairman; ICICI Bank in an exclusive interview with ET NOW, said that the Indian economy does not have a structural challenge right now and that collateral damage would be faced by export oriented economies, particularly of manufactured products to the developed market.

Mr. Kamath in his interview with ET NOW's Banking Editor George Cherian, stated that growth in India would continue to be strong despite the current market situation. He also mentioned that Inflation would ease on the back of a possible cooling of crude prices.

On being asked if the Central Government would step in if there were to be a repeat in the market scenario to that of 2008 - 2009, he said that the Government would find the wherewithal and come out to support industries but feels that the Indian economy would not come to that stage at all.

Commenting on effect of downgrade on personal consumption in the US he mentioned that the correction that had to take place in the minds of the people in terms of saving is already on way and he does not expect individuals consumption rates to tighten further. However he expects growth rate US to be a modest 2% to 2.5% and unemployment rates to remain high.

Catch the full interview of KV Kamath at the below mentioned timings, Only On ET NOW:

Friday - 12th August,2011 at 6.30pm

Saturday - 13th August,2011 at 4.30pm

Sunday - 14th August,2011 at 8.00pm

For further information, please contact:

LinOpinion

Neethu John

Mobile: 9930050101

Email: neethu.john@loweandpartners.com