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Manufacturing sector recovery in Q2: FICCI Survey

By Niranjan Mudholkar,

Added 23 November 2020

Improvement seen in exports, capacity utilisation and availability of workforce

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The percentage of respondents reporting higher production in second quarter of 2020-21 has increased vis-a-vis the Q1 of 2020-21.

FICCI's latest quarterly survey on Manufacturing points towards recovery of manufacturing sector for Q2 (July-September 2020-21) as compared to previous quarter. The percentage of respondents reporting higher production in second quarter of 2020-21 has increased vis-a-vis the Q1 of 2020-21. The proportion of respondents reporting higher output during July-September 2020 rose to 24%, as compared to 10% in Q1 of 2020-21. The percentage of respondents expecting low or same production is 74% in Q2 2020-21 which was 90% in Q1 of 2020-21. The survey covered wide areas of relevance for manufacturing like exports, capacity utilization, ongoing restrictions, availability of labour/workforce and others. In many of these areas there are signs of operations inching towards normal and in coming months could see better performance.
FICCI's latest quarterly survey assessed the sentiments of manufacturers for Q2 (July-September 2020-21) for twelve major sectors namely automotive, capital goods, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics & electricals, leather and footwear, medical devices, metal & metal products, paper products, textiles, textile machinery, and miscellaneous. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of around Rs 3 lakh crore.
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