India Inc upbeat, says CII study
85 per cent companies plan to increase their investment in Oct-March 2006-07 as they feel the current growth favours the economy.india Updated: Jan 24, 2007 15:49 IST
Leaders and captains of Indian industry are upbeat and riding high on a buoyant economy, expectations of increased production and expansion plans, an industry study reveals.
"An impressive performance in the past six months buttressed by an improved current situation and perceptions of higher growth and capacity expansion are the basis for the strong business confidence," the Confederation of Indian Industry (CII) said in a study released on Sunday.
According to the Business Outlook Survey of CII, 85 per cent companies plan to increase their investment in October-March 2006-07 as they feel the current growth of the economy is conducive for their growth.
The study also revealed that the non-manufacturing firms engaged in services are more bullish about the growth prospects than the manufacturing firms, reflecting a significant increase in business confidence.
A whopping 82 percent expressed hopes of increased value of production while 80 percent voted for new orders to increase in six months. The respondents have also indicated increase in employment and exports.