India Inc’s confidence improves
Confidence levels of India Inc has improved, according to a business survey by the Federation of Chambers of Commerce and Industry (FICCI).
The Overall Business Confidence Index was seven notches higher at 64.3 in the present round, released June 20, 2016, vis-à-vis the value of 56.7 in the last round.
This comes on the back of an improvement noted in both Current Conditions Index and Expectations Index, said FICCI.
The proportion of respondents citing a “moderately to substantially better” performance vis-à-vis last six months noted an increase at all the three levels – economy, industry and firm level.
Also in the current round, participants seemed more positive about the near term prospects.
The Indian economy has moved into a zone of stability with key economic parameters strengthening, said FICCI. The reform process initiated by the Government has been noteworthy.
The efforts made towards providing a conducive business environment have started yielding results and have improved the overall business sentiment, it added.
However, what remains a concern is muted recovery in the industrial sector. The manufacturing growth numbers have not been very encouraging and the same is reflected in the financials of the companies as well, FICCI pointed out.
The latest survey results indicate not much improvement in the operational parameters of the companies. fii-news.com
