Statesman News Service
New Delhi, 14 July:
Raising a hope for revival in the economic growth, investment in India is likely to pick up in the current financial year which is being indicated by a significant number of companies’ plan for capacity expansion, a survey has revealed.
According to a CEOs’ survey conducted by the Confederation of India Industry, 44 per cent of businesses plan to increase their domestic investment in the current financial year.
“Even in the present milieu of slowing economy, 37 per cent of the respondents did not see a decline in their investment level in the current year,” CII said in the survey report.
CEOs made similar projection about their investment outside India. While 50 per cent did not predict any change in their foreign investment, 37 per cent saw it increasing during the current financial year.
“This is an encouraging development in the midst of negative sentiments in the economy and all efforts should be made to ensure that the policy environment enables these intents to be translated on the ground,” CII director-general Chandrajit Banerjee said.
On measures required to revive growth, 52 per cent of the respondents accorded their first priority to clearing 50 large projects worth more than Rs 1,000 crore and 200 large projects worth between Rs 250 and Rs 1,000 crore within the next six months.