Business
India Inc says no change in economy performance in last 6 months
New Delhi, Feb 1
Painting a dismal picture of
the economy during the last six months of 2014, India Inc Sunday said
not much had changed on the ground at the industry level during the
period falling within the Narendra Modi-led government's tenure.
The
industry chamber's respondents were, however, optimistic that things
will improve a lot in the next as many months, the Associated Chambers
of Commerce of India (Assocham) said in a statement here.
"As
many as 54.2 percent of the respondents in the Confidence measuring
survey said not much has really changed at the operating level in the
last six months, but more number of industry leaders expressed optimism
about the shape of things to improve going forward," Assocham said.
"As
many 58.3 percent of the respondents expect that during January to
March 2015 their sales volume will increase and 45.8 percent of them
expressed similar outlook for profits," it added.
“Typically
investment follows improvement in sales and profitability. The latter
things - sales and profitability - are falling in place and there would
be a visible change in the next few months following which investment
should follow since there is always a lag,†Assocham secretary general
D.S. Rawat said.