Reality Check: No Substantial Change During First 6 Months Of Modi Govt, says ASSOCHAM
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Contrary to the hype of economic turnaround, a survey conducted by the Associated Chambers of Commerce of India (“Not much has changed on the ground at the industry level in the last six months,” Assocham said, citing its ‘
According to 54% of the respondents, nothing much had changed at the ground level, while 58.3% of the respondents were optimistic that their sales volume will increase during January-March quarter (Q4). About 46% respondents said that they won’t make any change in their domestic investment plans in the fourth quarter, whereas 42% of those surveyed expected the prospects of hiring to improve in the coming months.
“Typically, investment follows improvement in sales and profitability. The latter — sales and profitability — are falling in place and there would be a visible change in the next few months following which investment should follow since there is always a lag,” ASSOCHAM concluded.
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