India Inc says growth to rise in H1 of 2010

Indian Inc business confidence is on the rise, according to a  Survey conducted by CII.

The Business Confidence Index (BCI) BCI rose 7.4 points to 66.1 points for October-March 2009-10, compared to 2.4 points increase during first half of the fiscal.

This reflects better prospects for coming six months and indicate that economy has bottomed out, says CII Director General Chandrajit Banerjee.

The survey revealed that majority of 54 per cent of respondents expect GDP growth for the year 2009-10 to range between 6-7 per cent.

Further, 80 per cent of them feel that it is only in second half of 2009-10 and beyond that the Indian economy would witness a turnaround and begin returning to normal growth.

It also revealed that 52 per cent of respondents plan to increase investments in the coming six months.  On exports, which is witnessing declining growth rate consistently, 55 per cent of them expressed confidence in expansion of exports for period October-March 2009-10.