Business Line : Industry & Economy News : Corruption can impact investor confidence, fears chamber

Although bullish about India's growth, the corporate sector is concerned that corruption will affect the confidence of international investors, a survey conducted by the PHD Chamber of Commerce and Industry (PHDCCI) has revealed.

The survey covered 70 CEOs across sectors and focussed on the business expectations of the industry.

A majority of the respondents expected the real GDP growth rate to remain above 8 per cent during financial year 2012 and within the range of 8 to 10 per cent during 2013-15.

Inflation is expected to remain above 8 per cent during financial year 2012, and between 5 and 8 per cent during financial year 2013-15. The respondents feel that a possible softening in global commodity prices will help in moderating inflation in India.

According to the survey, interest rates (repo rate) will be more than 8 per cent during the current financial year and between 5 and 8 per cent during financial year 2013-15.

A significant percentage felt that gold prices will remain below Rs 30,000 during financial year 2012, and between Rs 30,000 and Rs 40,000 during financial year 2013-15. Real estate prices will rise during financial year 2012 but the rise will not be more than 30 per cent.

The BSE Sensex is expected to remain in the 15,000-18,000 range during financial year 2012 and in the 18,000-25,000 range during the financial year 2013-15.