"We need to preserve capital and use it judiciously," he said at a seminar here today.
Given that foreign funding sources have dried up, the dependence of corporates on the domestic debt market is going to be high in the period ahead, Deosthalee said.
Only a few Indian corporates managed to tap foreign funding sources in this time of recession, he said.
The syndicated loan market in India has almost closed, the L&T official observed.
According to him, in order to face the difficult times, corporates need to chalk out their business growth plans in the medium-to-long-term rather than taking into account just short-term factors.
Indian corporates also need to tighten their risk-management mechanisms, he said.
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