Business Outlook Improves Significantly In India; Majority Of Companies Reporting Higher Production: FICCI SurveySource: Financial Express

In a positive development for the economy, the business outlook in the country has improved significantly in the ongoing quarter with the majority of companies reporting higher production as per a survey conducted by the renowned industry body FICCI, reports Economic Times.

The quarterly survey on manufacturing conducted by FICCI has shown that around 61 per cent of the respondents expect higher year-on-year production in the ongoing quarter. Compared to this, in the same quarter last year, only around 24 per cent of the respondents had reported higher production.

It should also be noted that as many as 72 per cent of companies expect a higher number of orders than in the previous quarter as per the said survey.

Meanwhile, the survey also mentioned that the respondents also witnessed a rise in the cost of doing business and production. This was attributed to the increase in production costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, lower capacity utilisation, high freight charges and other logistic costs, increased cost of raw materials, power cost, and high interest rates.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber