India has to do more to ease its credit crunch

According to economists, India desperately needs to find alternatives to the country's credit crunch, which is hitting industries and crippling employment in Asia's third-largest economy.

"The situation needs to be addressed on a priority basis," says Mahesh Singhi, the founder and managing director of Mumbai-based investment bank Singhi Advisors.

We are looking at massive layoffs across sectors, causing a....