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Q4 manufacturing outlook positive: Ficci survey
New Delhi, March 11 (IANS) The outlook for the country’s manufacturing sector for the current fourth quarter (Q4) ending March 31 is positive, industry chamber Ficci said on Sunday.
Ficci cited an increased percentage of its survey respondents reporting higher production in the ongoing quarter as compared to the previous one.
Releasing its latest quarterly survey on Indian manufacturing, Ficci said the positive outlook for the sector in the fourth quarter (January-March) has increased significantly to 55 per cent from 47 per cent in October-December 2017.
“This positive outlook is notable as Q-4 2017-18 witnessed the highest percentage of respondents (55 per cent) expecting higher production since Q-2 of 2016-17,” said a Ficci statement.
“The percentage of respondents reporting low production has also come down to 11 per cent in the fourth quarter from 15 per cent in Q3 of 2017-18.”
Ficci’s latest survey assessed the expectations of manufacturers for the current quarter in 12 major sectors while responses were drawn from over 300 units in large as well as small and medium (SME) segments, with a combined annual turnover of over Rs 3 lakh crore.
“In terms of order books, 51 per cent of the respondents in Q4 are expecting higher number of orders as against 42 per cent of Q3 which again is a sign of revival,” the survey said.
According to Ficci, there are “visible signs of revival in capital goods and improvement is seen in export outlook also”.
“The future investment outlook remains pessimistic as 64 per cent respondents reported that they are not planning any capacity additions for the next six months,” the industry body said.
“High raw material prices, low domestic and export demand, exchange rate appreciation, increasing imports, excess capacities and shortage of working capital finance are some of the major constraints which are affecting expansion plans of the respondents.”
Noting that overall capacity utilisation in manufacturing remains low, the survey reported that “the average capacity utilisation for the manufacturing sector is about 77 per cent for Q3 2017-18 which is similar to that of Q2”.
The outlook for exports is marginally positive as 47 per cent of the participants are expecting a rise in exports during the quarter in consideration.
“Rupee appreciation has also affected exports during Q3 as 80 per cent of the respondents reported that the exports were affected by upto 5 per cent due to rupee appreciation,” Ficci said.
“Hiring outlook for the sector remains subdued in the near future as 70 per cent of respondents mentioned that they are not likely to hire additional workforce in next three months.”
Reflecting the rising inflation, the survey reported that the cost of production as a percentage of sales “has risen significantly for 62 per cent respondents in Q3 2017-18.
“This is primarily due to increase in cost of raw materials, increased wages, power cost and higher GST rates on certain products.”
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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