According to the most recent FICCI Quarterly Survey on manufacturing, the growth momentum that the manufacturing sector has accumulated over the past few months is anticipated to continue for the next six to nine months.
The Indian economy recovered in FY 2021–22, according to the most recent manufacturing survey from FICCI. Growth momentum was maintained in Q1 (April–June 2022-23) and Q2 (July–Sept 2022-23), with more than 61 per cent of respondents reporting increased output levels in Q2 (July–Sept 2022-23).
This is much greater than the proportion of respondents who reported stronger growth in Q2 during the past few years, including the years before COVID. This view is supported by the order books, which show that 54 per cent of respondents in Q-2 (July-Sept 2022-23) received more orders than usual.
The survey assessed the sentiments of manufacturers for Q-2, July-September (2022-23), for ten major sectors, namely automotive & auto components, capital goods, cement, chemicals, fertilisers, pharmaceuticals, electronics, machine tools, metal & metal products, paper products, textiles, textile machinery, and miscellaneous.
Responses have been drawn from over 300 manufacturing units from both the large and SME segments, with a combined annual turnover of over Rs 2.8 lakh crore.