India needs to control inflation if necessary through conservative policies, said MD and CEO ICICI Bank, K V Kamath, in Hyderabad on Wednesday.
"While there was no panic situation, but we still have to take serious measures in bringing down the inflation rate", he told reporters on the sidelines of two-day CII National Council Meeting.
Kamath, who is also CII President, said despite the inflation, the growth rate continued to rise in various sectors.
He said decisions should be taken on global contest to further strengthen the economy.
The CII perception of Indian economy is strong as incremental capital-output ratio at 4-fares is better than China and Brazil, he said.
Similarly, domestic consumption is strong at 67 per cent of GDP in 07-08 while export performance graph has also shown a remarkabe growth at 20 per cent which resulted in foreign exchange reserves at $312
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