Insta
Business Outlook Improves Significantly In India; Majority Of Companies Reporting Higher Production: FICCI Survey
Swarajya Staff
Sep 13, 2021, 11:11 AM | Updated 11:11 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.