India : Industry optimistic about revival in 2010

Explore digital solutions for creating fashion samples and patterns. Read more! | Ad

Home / Knowledge / News / Industry optimistic about revival in 2010

Industry optimistic about revival in 2010

01
Feb '10

A survey taken by PHD Chamber reveals an overwhelming fact that 90% of companies are hopeful of industrial revival during 2009-10 indicating that our economy is on the path of recovery and units could expect better times ahead.

A majority of 51% perceives that their business would grow by 5-20 per cent. Another 16 per cent display great enthusiasm by predicting 21-50 per cent growth in the next six months. 4 per cent, especially smaller companies envisage a growth rate of over 50 per cent.

However, a significant 22 per cent are still doubtful about the extent of recovery and expect their business to grow at a modest 0-5 per cent while around 7 per cent expect negative growth in commercial transactions in the next six months.

Satish Bagrodia, President, PHD Chamber, says "According to the Survey, the immediate focus of the Government should be to desist from introducing monetary tightening measures and retain fiscal incentives provided by way of stimulus packages to revive demand and increase private consumption expenditure."

Besides which, infrastructure bottlenecks need to be addressed and skill development initiatives should be taken on a priority basis", he adds by saying.

Click here to read the complete article.

Fibre2fashion News Desk - India

More PHD Chamber of Commerce and Industry (PHDCCI) News... More Textiles News - India...