The latest industrial production data painted a gloomy picture on the growth of industrial production as IIP for the Q1 2008-09 fell to 5.2% (y-o-y). almost everyone is predicting contraction of industrial activity and slowdown in economic growth. However, the recent KPMG survey on business outlook shows as different picture. The survey showed that the manufacturers were expecting business activity, capacity utilisation and employment to rise. In fact, India was shown as the country with second biggest expectation of employment generation, much above China but below Brazil.
In India, around 50% enterprises were optimistic about adding new workforce to expand their business presence. This survey is in sharp contrast with the just released IIP figures, which were less optimistic and hinted in slowdown of industrial activity in future.
In India, around 50% enterprises were optimistic about adding new workforce to expand their business presence. This survey is in sharp contrast with the just released IIP figures, which were less optimistic and hinted in slowdown of industrial activity in future.
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