CNBC-TV18's Executive Editor, Udayan Mukherjee is in London attenting the Euromoney Conference. Here's what he has to say:
There is quite a buzz in Park Lane, London, where the Euromoney Conference is being held, with Indian businessmen and large scale global investors. The India buzz is stilll very much alive. It's just a concern on valuations, which has been expressed by many people, but India still remains very hot.
On cement, the Finance Minister categorically said that there is no deal on the table for cement manufacturers, there's no fixing on cement prices and cement companies are free to raise prices, as indeed, they have in the last few weeks. On steel too, he said there is no price fixing at all and on the other sector that is bleeding right now, sugar, he said that the policy action is geared for a certain level of intial output, but since production is so high, the Government will try and assess the situation and alleviate the woes of the sugar manufacturers. Insurance and retail also may not see too much forward movement on the FDI front.
I've got it wrong if I thought, the Finance Minister would go into a shell untill the next general elections. But he said that he would surprise me and everyone with strong policy actions in the next 4-6 quarters.
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