A steady recovery of the Indian economy is on the anvil as corporate India restarts business and economic activity with lockdowns being increasingly relaxed in many parts of the country. For the first time since the advent of the pandemic in the country in early 2020, India Inc is now estimating a capacity utilisation of more than 50 percent in the second half of this financial year.
It is important to allow a complete opening up of the economy for demand to pick up which in turn will propel capacity utilisation. CII has been working closely with states and city corporations to bring down uncertainty over the opening protocol. The uptick in demand is expected to gain momentum in the coming weeks with the festive season round the corner.
CEOs of top 115 companies who met at CII’s National Council (its apex board), indicated revival of positive business sentiment and gradual rise in expected corporate performance. The CEOs who deliberated on a virtual platform had joined from across the country earlier this week. CEOs of the top companies who took the poll included representatives across sectors from metals and mining to manufacturing, auto, pharma, health, energy, infrastructure, construction and leading services sector including ITES, health hospitality tourism and e-commerce. The apex body also had large representation of the medium and small sector apart from startups.
This story is from the October - November 2020 edition of ET Polymers.
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This story is from the October - November 2020 edition of ET Polymers.
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