CII Survey Highlights Optimism in India's Economic Growth and Job Market

ENA Economy 2025-01-20 14:55:45 New Delhi, Jan 20 (KNN) A recent survey conducted by the Confederation of Indian Industry (CII) indicates that India's economy is positioned favorably for private sector investment, standing out as a bright spot in the current challenging global landscape. The ongoing survey, which aims to gather data from 500 companies by early February, has already collected responses from 300 firms across various industry sizes, providing crucial insights into the nation's economic trajectory. The interim findings demonstrate remarkable optimism in the employment sector, with 97 percent of surveyed companies indicating plans to expand their workforce in both fiscal years 2024-25 and 2025-26. Additionally, three-quarters of respondents view the present economic climate as conducive to private investment, suggesting a robust outlook for business growth. CII Director General Chandrajit Banerjee highlighted that 70 percent of surveyed firms have expressed intentions to invest in FY'26, potentially signaling an approaching surge in private sector investments. The organisation attributes India's economic resilience to sound government policies, particularly emphasising public capital expenditure-driven growth, which has helped the country maintain stability despite global supply chain disruptions and growth challenges. The survey, designed to evaluate private sector investment, employment, and wage growth, reveals encouraging employment projections. Direct employment is expected to increase by 15 to 22 percent across manufacturing and services sectors in the coming year, while indirect employment is anticipated to grow by approximately 14 percent above current levels in both sectors. Recruitment patterns indicate that firms typically require one to six months to fill senior management and supervisory positions, while lower-level positions are filled more quickly. This disparity highlights a pressing need for skilled personnel at higher organisational levels. The survey also projects steady economic growth, with rates expected to remain between 6.4-6.7 percent this year and potentially reaching 7 percent in FY26. Regarding wage growth, 40 to 45 percent of surveyed companies reported increases ranging from 10 to 20 percent across all organisational levels in FY25, maintaining similar patterns observed in FY24. While acknowledging these promising indicators, Banerjee emphasised that these findings should be considered alongside other economic indicators for a comprehensive understanding of India's economic landscape. (KNN Bureau) 40708 https://knnindia.co.in/news/newsdetails/economy/cii-survey-highlights-optimism-in-indias-economic-growth-and-job-market 2025-01-20 14:55:45 knnindia.co.in CII Survey Highlights Optimism in India's Economic Growth and Job Market