India Inc’s business confidence has shown a marked improvement since August, with the industry gauging that there was no political threat to the Government which would complete its full tenure, an Assocham survey indicated.
CEOs’ views
The survey covered 245 chief executive officers across sectors between September 25 and October 5.
Almost 72 per cent of the respondents felt that the GDP growth in 2012-13 would not be below 6 per cent and 90 per cent felt that there was no political threat to the UPA Government.
Slew of reforms
The corporate optimism followed the Government announcing a slew of decisions including foreign direct investment in multi-brand retail, hike in diesel prices, liberalisation in capital market rules, return of foreign institutional investors to the Indian market and the resultant recovery in the rupee.
Positive mood
However, 71 per cent of them said it would take a few months and some more action, particularly on the interest rate front, for the positive mood to translate into demand generation and reflect in the corporate investment pipeline.
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