CII chief says inflation worrisome

Sunil Bharti Mittal, president Confederation of Indian Industries (CII) and chairman and managing director, Bharti Group, today said inflation was a cause of concern for the industry.

Speaking to media persons, Mittal said although the government seems to have taken some measure to fight the inflation, "the real problem lay in the supply side which needs to be strengthened."

He, however, said lowering of the interest rates at this stage would go a long way in strengthening the supply side in the long term.

On the Mobile virtual network operators (MVNOs), Mittal said "I don't think MVNOs can succeed at the current rates."