After being in the dumps for over a year, industry is seeing signs of an upswing in the business cycle. Business Standard starts a series on the emerging business sentiment
In Mumbai, Niranjan Hiranandani, the managing director of Hiranandani Constructions, can barely control his excitement. "Business is growing at 15-7 per cent, up from 7-8 per cent last year, as the demand for residential property has shot up," he says.
In Pune, Bajaj Auto is putting together plans to ramp up the production capacity of its Chakan plant as the sales of its power/premium motorcycle, Pulsar, has exceeded projections. "We were thinking that we will sell around 150,000 units during 2002-03. Now, it seems we will be selling around 200,000," Bajaj Auto vice president (business development and marketing) R.L. Ravichandran says.
And in Delhi, Vikram Sharma, the chief executive of Escorts Construction Equipment Ltd, says his company will grow by 80-100 per cent during the year on account of the boom in road construction activity. "The government's initiatives have given a tremendous fillip to the industry," he says.
Reports of an upturn in business have started filtering in. Though a full-fledged boom might still not be in sight, a cautious optimism is in the air. At yesterday's meeting of the prime minister's economic advisory council, more than one member
