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India Inc looks to RBI not to impose interest rate hike

India’s corporates – referred to as India Inc. – are looking to the Reserve Bank of India to refrain from tightening monetary policy to keep up the growth momentum.

"Hiking interest rates at this point will act as a break in the overall growth process," says Federation of Indian Chambers of Commerce and Industry President Rajan Bharti Mittal.

The Indian economy grew by 8.6 percent in the last quarter of 2009-10, helped by a rapid growth in manufacturing.