The Hindu Business Line : Industries in North upbeat: Survey

INDUSTRIES located in the North are confident about doing business in the prevailing economic environment and have shown enough signs of optimism over conditions improving further in the next six months, finds the Business Perception Survey carried out recently by PHD Chamber of Commerce and Industry.

The survey covered a wide range of industries such as textiles, auto components, chemicals, leather, paper, plastic, construction equipment, electronics, pharmaceuticals, steel and IT.

Fifty per cent of the respondents have given a top rating when asked to rank the level of business confidence on a scale of one to four. About 15 per cent rated their business confidence above average (rating two). However, 35 per cent of the companies say that their confidence level is not quite satisfactory (rating three). However, none of the respondents expressed despondency over the present business environment in the country.

The survey also found that companies are particularly upbeat about their future export prospects, with 86 per cent expecting increased orders during the next six months. However, not many were contemplating fresh recruitment, with about 55 per cent expecting their employment to remain the same over the next six months.

Furthermore, the survey showed that corporates are not particularly happy with the Budget, as they feel the provisions would increase their tax burden, leading to rise in cost of production.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page