Industry Sentiments Upbeat For H1 FY23 Say Top Industry CEOs

The results of a recent poll conducted by CII among its top industry CEOs reveal that while expectations of monetary tightening are pervasive, given the sharp increase in inflation and heightened inflation expectations, overall outlook for H1 FY23 looks robust. Reflecting on their own company prospects, a major share of the CEOs revealed an upbeat sentiment- as 44 per cent of them felt that their company's revenue growth would be in the range of 10 per cent to 20 per cent during first half of FY23, followed by another 32 per cent of the CEOs anticipating a bigger jump in revenues, of more than 20 per cent during the same period.

This optimism was echoed on the profits front as well, with 45 per cent of the CEOs indicating that their company's profit growth is likely to increase more than 10 per cent, closely followed by 40 per cent of them who believed that profit growth may stand slightly lower, up to 10 per cent, during H1 FY23. These are the findings of a recent poll conducted by CII at its Second National Council Meeting for FY23 in Delhi, which saw a participation of 136 CEOs from across the country.

The CII CEOS Poll results clearly demonstrate the resilience of Indian industry and the positive business performance outlook both on domestic as well as exports front despite challenges of high inflation leading to monetary tightening, rising input prices and uncertain global economic conditions, said Mr Chandrajit Banerjee, Director General, CII.

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