A business confidence survey conducted by the Federation of Indian Chambers of Commerce and Industry (Ficci) has pointed out that the domestic industry is hopeful of a substantial improvement in economic conditions in the next six months.
According to the 66 per cent of the 403 respondents surveyed by the chamber, the current overall economic condition was substantially to moderately better compared to the last six months. As many as 71 per cent of the respondents expected economic condition to be substantially to moderately better in the coming six months, the survey said.
Nearly 59 per cent expected higher to much higher profits, while 75 per cent expected higher to much higher sales, the survey said, adding that only 35 per cent were planning higher to much higher investments.
Meanwhile, a financial analysis of the first quarter results of 502 corporates carried out by the chamber showed that the net profits in the first quarter of 2002-03 had risen 19.24 per cent over the first quarter of 2001-02. Sales had gone up 13.17 per cent in the first quarter of the current financial year as against the same period of the last financial year.