In his column "Slow and steady, Mr Modi" (June 17), Andy Mukherjee points out that significant global gross domestic product (GDP) growth is unlikely in the near future and also warns of difficulties that India will face if global interest rates go up. But will global interest rates go up if there is little global growth?
Moreover, India's investment needs are small change when compared to the size of global funds seeking some modest returns without unacceptable risks. So, India's foreign exchange requirements may be readily available irrespective of the global GDP growth rate.
Alok Sarkar Kolkata
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