India has nothing to fear from China as it has the advantage of a huge internal market, a strong financial system and a currency that is coming into its own. In China, the accent is on producing for exports while in India, exports take place only after the demand in the domestic market is satisfied.
Further India is also the lowest cost producer of steel and cement in the world, said Shailesh Haribhakti, the new president of the Indian Merchants Chamber (IMC).
Responding to questions from newsmen, Haribhakti said that the fundamentals of the capital market were strong but what was required was a growth driver and change in perception.
