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Manufacturing outlook moderates in Q1: FICCI survey
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SME Times News Bureau | 24 Jun, 2019
A FICCI survey has found that the outlook for the country's manufacturing sector in the April-June quarter of the current fiscal has moderated as only 41 per cent of respondents in a FICCI survey expected higher output growth during the ongoing quarter compared to 54 per cent in the January-March quarter.
As per the industry chamber report released on Sunday, the percentage of respondents expecting low or static
production is 59 per cent in the first quarter of 2019-20, which was 46
per cent in the previous quarter.
In terms of order books, 36
per cent of the respondents during the quarter under review are
expecting higher number of orders against 44 per cent in January-March
2019.
In terms of capacity utilisation, the FICCI survey noted
that the overall capacity utilisation in manufacturing has witnessed a
slight fall to 78 per cent during April-June, as compared to 80 per cent
in the previous quarter.
The investment outlook too is marginally subdued for the April-June quarter compared to the year-ago period.
The
latest quarterly survey assessed the sentiments of manufacturers for
April-June, 2019-2020, for twelve major sectors. Responses have been
drawn from over 300 manufacturing units among large, small and medium
enterprises with a combined annual turnover of over Rs 3.5 lakh crore,
FICCI said.
"Thirty seven per cent respondents reported plans for
capacity additions for the next six months as compared to 40 per cent
in Q4 of 2018-19," said the survey.
"High raw material prices,
high cost of finance, uncertainty of demand, shortage of skilled labour,
high imports, requirement of technological upgradation, low domestic
and global demand, excess capacities, delay in disbursements of state
and central subsidies and competing countries such as Bangladesh and
Vietnam enjoying lower wage cost and export benefits resulting in
erosion of competitiveness of Indian exporters are some of the major
constraints which are affecting expansion plans of the respondents," it
said.
Sector-wise, the survey showed that people in the
manufacturing sector, expect the electronics and electricals segment to
register strong growth during the ongoing quarter, whereas most other
sectors are likely to have either moderate or low growth.
Textiles,
chemicals, fertilizers and pharmaceuticals, capital goods, paper
products, cement and ceramics are expected to register moderate growth
while automive, metal and metal products, medical devices and leather
and footwear are likely to witness low growth, the survey showed.
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