New Delhi, Feb. 17 (PTI): India Inc is optimistic about an improvement in business conditions in the coming months on the back of pro-growth announcements in the upcoming Union budget.
Majority of the corporates, surveyed by Ficci and PHD Chamber of Commerce and Industry, separately, said that the mood was optimistic and they expected better business conditions, which would lead to more sales and higher profit margins in the next six months to three years.
Ficci, in its business confidence survey, said majority of the respondents were positive about the next two quarters (January-June 2013) as they expected pro-growth announcements in the upcoming Union budget.
The respondents also said they were hopeful that green shoots would soon appear as the government continued to move ahead on the reform agenda.
“Though the economic situation continues to be difficult and business sentiment remains weak, we will be pro-growth and give a renewed thrust to capital formation,” Ficci president Naina Lal Kidwai said.
Sharing similar views, PHD Chamber said in its study that the long-run prospects of business in the country seemed bright as majority of the corporates planned to expand their businesses in the next three years.
It said effective policy interventions and reform initiatives would pave the way for greater investment intentions by corporates.
“The time is most opportune to provide greater policy environment that will reassure investors’ confidence with promises to open more avenues for projects, policies, products and partnerships,” PHD Chamber president Suman Jyoti Khaitan said.