India Business Confidence Picks Up In January: Survey
Business sentiment in India rose for the first time in three months to the highest since October 2015, as domestic orders strengthened at the start of the year, showed a survey by MNI Indicators. But, only 17 per cent of the respondents said their business performance was better under the new government, a possible indication that these companies expected faster reforms from the government. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, rose to 61.8 points in January from 60.7 in December. Sentiment rose in manufacturing and service sectors but declined among construction sector companies. A reading above 50 indicates expansion while one below that shows contraction. The January 2016 reading was 3.7 per cent below the January 2015 reading, showed the MNI survey. On the impact of the Narendra Modi government on businesses, 17 per cent of the respondents said their business performance was better under the new government. Many said quicker clearance and implementation of business proposals were benefitting the business environment.