Q2 sees India Inc's business confidence up

NEW DELHI: India Inc sees higher profits this fiscal with improvement in the business confidence following reform measures by the government in recent months, a survey by Ficci said on Sunday.
"Indian business community is upbeat about the future prospects of the economy, industry and their own firms. After having dipped in the last round, business confidence index has gained 3.5 per cent to 69.2,"Ficci said in its latest quarterly businews confidence survey.
However, Ficci said oil price pressures has dampened all the three major indices — business confidence index , current conditions index and expectations index.
Majority of the business community feel the current economic performance is ''modertely to substantially'' better and they expect ''improved performance in the next six months.'' Regarding industry, Ficci said improving expectation about industry performance is indicative of the government’s commitment to increase competitiveness of Indian industry though it may not get reflected in the rest of the year. Sales index was up by 4 per cent to 64 from the previous quarter and majority in India Inc expect their sales to go up further in the next six months.