Business outlook has improved for India Inc: CII survey

June 8th, 2009 - 6:41 pm ICT by IANS  

New Delhi, June 8 (IANS) Despite signs of an improving economy, India Inc feels actual recovery will happen only after September, a survey by the Confederation of Indian Industry (CII) has found.
According to the survey, conducted by the CII northern region, 96 percent of respondents believe a turnaround would happen only in the second half of 2009-10, thanks to the ongoing global slowdown

The survey found 72 percent of respondents expecting the economic growth to be in the range of 5-7 percent this fiscal.

On inflation, 87 percent said it would be above 2 percent in 2009-10, thereby ruling out the possibility of sustained deflation.

The survey also looked into the expectations on various elements that build up business confidence.

About 33 percent said they expected an increase in investments to pick up in the first half itself, while over 55 percent said capacity utilisation would likely be more than 75 percent.

According to the report, 62 percent of the respondents believed sales would increase in the first six months as against 39 percent in the last survey.

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