Confidence of the Indian Micro, Small and Medium Enterprise sector for the fourth quarter of current financial year has grown, a recent survey shows.

The MSME Business Confidence survey conducted by ONICRA finds that 88.08% Indian MSMEs expect an increase in number of new orders, 81.04% expect an increase in operating margin, 59.02% expect an increase in number of employees, 61.76% expect an increase in selling price, 87.17% expect an increase in access to finance during Q4 2015-16, 33.94% expect an increase in level of external borrowings, 71.60% see a stagnation in export volume, 69.71% anticipate depreciation in Indian rupee (INR).   

The ONICRA MSME BCI index is estimated at 147.32 points (an increase by 5.03 points from 142.29 in Q3 FY 2015-16), which reflects growth and expansion of the sector.

The index is measured on a scale of 0-200. An index above 100 indicates positive outlook and vice versa. For Q3 FY 2015-16, the index had registered a fall by 4.28 points, compared to Q2 FY 2015-16.

Out of all the industries aggregated, construction and engineering led the rally while being bullish at 153.96 points, followed immediately by 'agriculture and allied products' at 149.94 points, closely run by 'textile' at 149.56 points.

"ONICRA MSME Business Confidence Index is bullish, in fact, on the back of consumption driver in the Indian economy in contrast to other emerging economies," ONICRA said.

"This shall prove as the singular factor pushing India Inc. on the path to recovery," it added.