FICCI's latest Business Confidence Survey reports an improvement in the confidence level of India Inc. Overall Business Confidence Index stood at 67.6 in the current round compared to 63.9 previously. The survey finds an improvement in both current conditions and the expectations of Indian companies in its latest round. The Current Condition Index improved to 66.1 from 62.6 in the last survey, while the Expectations Index improved to 68.4 from 64.5. The findings reflect improved confidence amongst industry members in the near term on some operational parameters, including sales and investments.
As reflected in the latest survey results, the demand situation is progressively witnessing an improvement. The geopolitical stress is causing considerable uncertainty. The Russia Ukraine conflict impacts already high global commodity prices and has raised fresh concerns regarding global recovery. Moreover, the cost of production has already been on the rise for the past six months, and the current conflict has further raised upside pressures on the prices of key industrial inputs. The Outlook on Exports also reported a slight deterioration. Even though India's export prospects have been robust, global trade is expected to witness a slowdown given the extended nature of the ongoing conflict between Russia and Ukraine.
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