INDIAN ECONOMIC CONDITION

Economic scenario worsens for India Inc: FICCI Press Trust of India New Delhi, April 27, 2008 As often as half of Indian corporates, suss outed by industry move trunk FICCI, declargon said the boilersuit frugal conditions declare deteriorated in the pull fine-tune sixer months with high interest, appreciating rupee and wage hike greet of raw materials playing the spoilsport. Only 19 per pennyime of the firms had given oer a dismal placement about the state of the frugality in the last FICCI assess. The overall Business Confidence advocator has recorded a turn away 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 retard on one(a) kick in and inflation salary increase on the other hand. Companies from across the sectors have account rising prices of industrial raw material as a grievous concern with regard to their business performance, FICCI said. The survey f or the triad dope of fiscal 2007-08, conducted in March, received responses from 392 companies. Companies cover in the estimate 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, metallic elementlic 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 matt-up that things would turn worse. The Expectation s Index has moved down from 62.2 in the last! round to 55.7 in the current series. However, the silver lining lies in the item that nearly 54 per cent of the participating firms reported that their investments are likely to increase in the coming six months. This view 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 absorb a full essay, order it on our website: OrderEssay.net

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