India in a sweet spot; see crude prices bottoming out: Vedanta

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Anil Agarwal, Chairman of Vedanta Group says he is confident that India will grow at over 7 percent, as the newly-elected government is showing good sense of urgency in handling key economic issues.
Agarwal says that although commodity prices are currently under pressure and impacting the company’s business, they will be out of this situation soon, adding that Vedanta is at a comfortable position on Zinc and crude oil prices are also close to bottoming out.

He is of the opinion that although the Reserve Bank of India is trying to bring interest rates down, the commercial banks are resisting.

Banks must pass on the rate cuts more readily, he says.

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