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FICCI Business Confidence Index hits a new low
28 Apr '08
3 min read
The Current Conditions Index has dipped from 59.3 in the last survey to 54.5 in the current survey. The Expectations Index has moved down from 62.2 in the last round to 55.7 in the current round. The Overall Business Confidence Index has recorded a decline from 61.2 in the last survey to 55.3 in the present survey.
The present round of FICCI Business Confidence Survey for the third quarter of fiscal 2007-08 was conducted in March 2008. The Survey drew responses from 392 companies from a wide geographical and sectoral spread.
Companies participating in this survey had turnover ranging from Rs. 1 crore to Rs. 50,000 crore. The respondents were largely from sectors such as cement, pharmaceuticals, textiles and apparel, leather, FMCG, heavy equipment and machinery, financial services, paper, metal and metal products, chemicals, IT, auto & auto ancillary and steel.
The FICCI's latest Business Confidence Survey shows that corporate India's confidence level, which had dropped to a five year low as reported in the last survey, has declined further.
India Inc is deeply concerned about the evolving economic situation with growth slowing on one hand and inflation rising on the other hand. Companies from across sectors have reported rising prices of industrial raw material as a 'serious' concern with regard to their business performance.
Many firms are faced with no choice but to increase their prices in the coming months. The stabilization of the Rupee around Rs. 40 to a $ mark has helped some companies in their export business but still a majority 56% feel that Rupee's appreciation has dented their competitiveness.
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The present round of FICCI Business Confidence Survey for the third quarter of fiscal 2007-08 was conducted in March 2008. The Survey drew responses from 392 companies from a wide geographical and sectoral spread.
Companies participating in this survey had turnover ranging from Rs. 1 crore to Rs. 50,000 crore. The respondents were largely from sectors such as cement, pharmaceuticals, textiles and apparel, leather, FMCG, heavy equipment and machinery, financial services, paper, metal and metal products, chemicals, IT, auto & auto ancillary and steel.
The FICCI's latest Business Confidence Survey shows that corporate India's confidence level, which had dropped to a five year low as reported in the last survey, has declined further.
India Inc is deeply concerned about the evolving economic situation with growth slowing on one hand and inflation rising on the other hand. Companies from across sectors have reported rising prices of industrial raw material as a 'serious' concern with regard to their business performance.
Many firms are faced with no choice but to increase their prices in the coming months. The stabilization of the Rupee around Rs. 40 to a $ mark has helped some companies in their export business but still a majority 56% feel that Rupee's appreciation has dented their competitiveness.
Click here to view more:
Federation of Indian Chambers of Commerce and Industry
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Christian Guinet
French Textile Equipment Manufacturers’ Association (UCMTF)
Salvatore Piccione
Label - Salvatore Piccione
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