India Inc.’s Business Confidence At The Highest Level
India Inc.’s business confidence at the highest level of the decade, improving circumstances and better expectations led to results.
The confidence of Indian enterprises has increased due to improving conditions and better expectations. The overall business confidence index of industry organization FICCI has reached 74.2.
This is the highest level of a decade. In the previous survey, the index stood at 70.9 and stood at just 59 a year ago.
The elevated level of the Confidence Index is an indication of improvement in demand and better expectations on various scales.
The demand stalled during the lockdown is now coming out. However, during this period, rising raw material prices have raised some concerns.
FICCI’s survey companies were among the biggest concerns of this year due to rising raw material and labor costs and inadequate loan arrangements.
India Inc.’s business confidence at the highest level: The report said that as the supply chain is seeing a shift globally, increasing costs can make it difficult for Indian companies.
FICCI said higher interest costs on loans, higher inward, logistics costs, and more rule burden on the cost of recurring statutory compliance and increased manpower are increasing the cost of doing business in India.
It said that this is not good in the current environment, which is witnessing a change in the global supply chain.
FICCI said expectations along with improving conditions have dragged the overall business confidence index value down significantly across the survey. FICCI said that it may help to move beyond the Union Budget 2021-22.
This has influenced an expectation among members of the industry with measures announced as part of the Self-sufficient India package and incorporating it into a better approach to various operational parameters.
The survey reported that the percentage of participants increased from 33 percent of respondents in the previous survey to 36 percent, citing greater profits over the next six months.
Stock market opens with gains, Sensex rises by more than 250 points, Nifty crosses 15,000.
Today the first trading day of the week i.e. Monday, the stock market opened with an increase. At 09:17 am, the Bombay Stock Exchange’s flagship index Sensex was up 275.30 points and was trading at a level of 50,680.62.
At the same time, the National Stock Exchange Nifty was trading at a level of 15,015.05 with a gain of 76.95 points.
