By IANS
New Delhi : With higher growth optimism, Indian micro, small and medium enterprises (MSMEs) are increasingly becoming resilient to the negative impact of changing economic parameters like rising interest rates, says a survey.
The survey by the Confederation of Indian Industry (CII) showed that as many as 60 percent of MSMEs are positive about the general business scenario with 91 percent of them in the process of authorising more capital investment.
According to the survey findings on the production growth expectations of MSMEs, 69 percent expect more than 10 percent growth in their production and 21 percent expect 5-10 percent growth.
On the issue of hiring more people, almost 71 percent of MSMEs look forward to hiring more people while only 2 percent respondents foresee a decline in employment.
However, CII said, besides the rising cost of credit, MSMEs also face several challenges such as threat from domestic and international competition resulting in a declining demand from exports.
The survey also highlighted a general upbeat mood with many expecting sound turnover over the past six months.