TW Newsdesk, May 14: The increase in inflation is affecting businesses as it has impacted the discretionary buying capacity of the consumers, Deputy CMD of Microtek International Saurabh Gupta stated on May 13.

He said the raw material cost price has been on the rise since the beginning of COVID-19 about two years back. “Though the pandemic has gone, there is Russia-Ukraine war now,” he stated. Gupta said during 2020 because of the reduction in rates by RBI, there was a lot of money available for businesses and consumers in the form of loans at very good rates.