Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Textiles / CII Business Confidence index rises markedly in Apr-Jun 2016
CII Business Confidence index rises markedly in Apr-Jun 2016
26
Jul '16
The CII- Business Confidence Index (BCI) for April -June 2016 (BCI) increased to the level of 57.2, up from the level of 54.1 recorded in the previous quarter reflecting a rise in business sentiment and lending credence to the perception that industry is on a strong footing.

Indian industry remained upbeat about the business environment in the first quarter of FY2016-17, leading to a rise in the CII BCI, which has been steadily climbing since the last three quarters, according to a release by the Confederation of Indian Industry (CII).

Commenting on the decisive improvement in the BCI, Chandrajit Banerjee, Director General, CII said 'a rise in business expectations sends an early signal that the industry is anticipating an upturn in demand propelled by factors such as implementation of the Seventh Pay Commission, progress of a favourable monsoon and pro-active reform agenda of the government'.

The findings are a part of CII's 95th edition of quarterly Business Outlook Survey, which was based on more than 200 responses from large, medium, small and micro firms, covering all regions of the country.

The improvement in the index this quarter has been led by a sharp improvement in the Expectation Index, as compared to the Current Situation Index, as firms appeared particularly upbeat about activity in their sectors.

The increase in the business sentiment this quarter has been backed by strong expectation of economic growth for the current fiscal year, with more than 60% of the firms expecting real GDP growth to range between 7-8% in FY 2017.

Also, business conditions are expected to improve as 61% of the firms expect an increase in sales in April-June 2016, as compared to only 42% who experienced the same in January-March 2016, while nearly 65% of the firms anticipated an increase in new orders in April -June 2016, up from 40% who witnessed the same in the preceding quarter.

Much of the recovery in business conditions is expected to be domestically driven as a majority of the firms (51.2%) expect to maintain status quo on their export orders in the first quarter, the CII report said.

Profit expectations have also improved in the current quarter (Apr-Jun 2016) with close to half of the firms (48.7%) anticipating an increase in their after-tax profits in the period. This, despite the fact that a large share of respondents (37%) had experienced a decline in after- tax profits in the previous quarter (Jan-Mar 2016).

Nearly half of the respondent firms, (49.7%), had placed their investment plans on hold in Apr-Jun 2016 quarter, notwithstanding the expectation of improvement in sales and new orders in the said period. Existing unutilized capacity and unforthcoming demand prompted them to maintain status quo on their domestic investment while uncertainty in the global economic environment forced 60.5% of them to keep their international investment plans unchanged.


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Mukesh Agarwal & Rajesh Agarwal, Madhuram Fincap Pvt Ltd

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Shyam Gupta & Ravi Gupta,

Shyam Gupta & Ravi Gupta

Based out of South Delhi, Gargee Designer's provides bespoke formal and...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search