Manufacturing sentiments remain positive in first quarter: FICCI Survey
Author: BI Bureau
New Delhi: Global headwinds notwithstanding, FICCI’s latest quarterly survey on Manufacturing reveals that sentiments remain positive for Indian manufacturing during first quarter of 2023-24.
The survey observed that after experiencing revival of Indian economy in the FY 2021-22, momentum of growth has continued for the subsequent quarters as well. In the Q4 Jan-March FY 2022-23, 55% of the respondents reported higher production levels. Further, over 57% of the respondents expect a higher level of production in Q1 Apr-Jun 2023-24 with an average increase in production in single digits, a release said.
This assessment is also reflective in order books as 58% of the respondents in Q-1 Apr-Jun 2023-24 have had higher number of orders and demand conditions especially domestic, continue to be optimistic in Q-2 Jul-Sept 2023-24 as well, noted FICCI survey.
FICCI’s latest quarterly survey assessed the sentiments of manufacturers for Q-1 April-June (2023-24) for nine major sectors namely Automotive & Auto Components, Capital Goods & Construction Equipment, Cement, Chemicals Fertilizers and Pharmaceuticals, Electronics & White Goods, Machine Tools, Metal & Metal Products, Textiles, Apparels & Technical Textiles, Toys & Handicrafts and Miscellaneous. Responses have been drawn from over 400 manufacturing units from both large and SME segments with a combined annual turnover of over Rs. 7.70 lakh crores. /BI/
