Industry & Economy
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Economy
India Inc upbeat on future growth, says CII survey
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56% expect employment to increase in second half
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New Delhi
Jan. 22
Indian Inc is upbeat about future growth, both for itself and the economy, says Confederation of Indian Industry's 66th Business Outlook Survey.
The chamber's business confidence index for the period October to March of the current fiscal at 71.8 was higher by 2.5 points compared with April to September period of the previous fiscal.
Increase investments
The survey revealed that 85 per cent of the respondents plan to increase investments during the October to March period.
Capacity utilisation across the board has increased and 58 per cent of the respondents have expressed confidence that capacity utilisation will be in the range of 75-100 per cent.
Yet another 24 per cent of the respondents expressed confidence that the capacity utilisation will exceed 100 per cent.
Fifty six per cent expected employment to increase in the second half of this financial year, while 73 per cent expressed confidence in growth in exports. On the performance of the economy, 32 per cent respondents said that GDP growth for 2006-07 is expected to be between 8.5 and 9 per cent. Twenty two per cent of them feel that economy would grow in excess of 9 per cent in the near future.
However, 67 per cent of the respondents felt that procedural delays on the export front had not reduced.
This has been a long-standing hurdle for exporters, which raises transactions costs and needed urgent attention.
The survey covered around 200 respondents from companies across the country.
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