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Investments to increase during Apr-Sept: CII |
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Undeterred by the ongoing global financial turbulence, India Inc is likely to pump in more money during the first half of the current fiscal, which will help the economy to expand by over 8 per cent, says an industry chamber survey.
Though the business confidence during April-September is likely to moderate due to factors like high interest rates, availability and cost of labour, global turbulence etc, the investments are expected to remain on track, said the CII's Business Outlook Survey.
The new orders, it said, are expected to raise the value of production in the next six months pushing up employment generation in the later part of the current year.
Pointing out that exports are likely to grow in the first half, the survey said that the government should address the problems like rising interest rates, high transaction cost and procedural delays.
"This has been a long-standing hurdle for exporters, which raises transactions costs and needs to be addressed urgently," the survey said.
In addition to global financial turbulence, the CII survey also raised various other concerns like infrastructure bottlenecks, declining consumer demand and increasing import.
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