No real need to worry: CII President Memani on rupee's decline

Confederation of Indian Industry President Rajiv Memani said there's "no real need to worry" about the rupee's current decline. "As long as there's no major volatility, a little bit of weakening of the rupee will not have a bad outcome for India," he stated. "It raises...cost of imports, and therefore, encourages people to look at more domestic alternatives," he added.