(Bloomberg) -- Dollar-denominated fundraising by Indian companies is at the lowest in five years after growth in Asia's third-largest economy has slowed for five consecutive quarters. Finance Minister Arun Jaitley called for companies to boost spending, saying that there's “no need to panic” about the economy at a Bloomberg event on Friday. Despite ample local liquidity and low hedging costs for dollar rates, borrowers don't require the funds, according to Ajay Marwaha, director for investments at Sun Global Investments Ltd. in London.
To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net.
To contact the editors responsible for this story: Neha D'silva at ndsilva1@bloomberg.net, Foster Wong, Finbarr Flynn
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