INDIAN ECONOMIC CONDITION

Economic scenario worsens for India Inc: FICCI Press Trust of India New Delhi, April 27, 2008 As ofttimes as half of Indian corporates, suss outed by industry gondola trunk FICCI, decl are said the boilers suit frugal conditions gravel deteriorated in the pull lap six-spoter months with high interest, appreciating rupee and advance greet of raw materials playing the spoilsport. Only 19 per penny of the firms had given over a dismal facet about the state of the frugality in the last FICCI assess. The overall Business Confidence advocator has recorded a dip from 61.2 in the last survey to 55.3 in the present series. India Inc is deep concerned over the evolving economic situation with growth slowing on unitary kick in and inflation acclivity on the other hand. Companies from across the sectors have account rising prices of industrial raw material as a solid concern with regard to their business performance, FICCI said. The survey for the triad shadow of fiscal 2007-08, conducted in March, received responses from 392 companies. Companies cover in the appraisal had a wide range with employee turnover between Rs one crore and Rs 50,000 crore. The industries included cement, pharmaceuticals, textiles, FMCG, apparel, leather, heavy equipment and machinery, financial services, paper, alloylic element and metal products, chemicals, IT, automobile auto ancillary and steel.

Industry expectations for the feeler six months are also not optimistic. While 38 per cent believe that the current economic scenario will stop over the next six months, close to a third felt up that things would turn worse. The Expectations Index has moved dow n from 62.2 in the last round to 55.7 in the! current series. However, the silver lining lies in the point that nearly 54 per cent of the participating firms reported that their investments are likely to increase in the coming six months. This attribute is much higher when compared to the corresponding figure of 33 per cent obtained in the previous survey. Further, this improvement in the investments...If you ask to make for a full essay, order it on our website: OrderEssay.net

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