Industry & Economy
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Economy
Outlook positive for services sector: Survey
Our Bureau
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Investment, exports seen rising
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New Delhi
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Nov. 6
The services sector expects increase in investment, exports and employment for the July-December period of the current year, according to the Services Sector Business Outlook Survey conducted by the Confederation of Indian Industry.
The survey revealed that 92 per cent of the respondents plan increases in investments during the period.
Of these, 28 per cent respondents want to invest Rs 5 crore and above ($1 million), while 70 per cent are looking at investing over Rs 1 crore. They felt the business outlook was positive on parameters such as sales, new projects, repeat orders and customers and billing rates.
As many as 60 per cent respondents voted for billing rates as the leading parameter for a positive business outlook.
Another 83 per cent cited new customers as the reason for business looking up, while a similar percentage of the respondents felt employment would increase during the period.
Export front
Things look bright on the export front as well, according to the CII survey.
The value of exports is expected to rise, indicated 81 per cent of the respondents.
The respondents were also upbeat about the economy. Fifty-four per cent expected the GDP to grow at over 8 per cent during 2006-07.
The survey covered firms engaged in services such as communication , construction and related engineering services, distribution, education, environment, finance, health, tourism and travel, recreation, culture and sports among others.
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