<p>India Inc's business sentiment has turned positive during the July-September quarter, surging to 50.3 from its lowest reading of 41.0 in the previous quarter of April-June as the government gradually unlocked the economy and business activity resumed, according to industry chamber CII's business outlook survey.</p>.<p>A score above 50 indicates positive confidence while a score above 75 is strong positive confidence. On the contrary, a score of less than 50 indicates a weak confidence.</p>.<p>The survey was conducted during August-September 2020 and saw participation of over 150 firms across different sectors, CII said.</p>.<p>Over half of the respondents said that the weakness in domestic demand is likely to be the topmost risk to business confidence in the next six months. Nearly 30% felt business activity may return to pre-pandemic levels by April-June of 2021.</p>.<p>But Covid apart, the data released by CII shows India Inc’s business confidence had begun to deteriorate since the beginning of the previous financial year itself. In the January-March quarter of the financial year 2019-20, the business sentiments ran as high as nearly 65.2. Thereafter, in the next four consecutive quarters, it remained below 60, before dropping to 41 in the June quarter for 2020-21.</p>.<p>CII Director General Chandrajit Banerjee said while a recovery is under way, it could be tremendously expedited through continued government support and handholding of businesses during this crisis.</p>
<p>India Inc's business sentiment has turned positive during the July-September quarter, surging to 50.3 from its lowest reading of 41.0 in the previous quarter of April-June as the government gradually unlocked the economy and business activity resumed, according to industry chamber CII's business outlook survey.</p>.<p>A score above 50 indicates positive confidence while a score above 75 is strong positive confidence. On the contrary, a score of less than 50 indicates a weak confidence.</p>.<p>The survey was conducted during August-September 2020 and saw participation of over 150 firms across different sectors, CII said.</p>.<p>Over half of the respondents said that the weakness in domestic demand is likely to be the topmost risk to business confidence in the next six months. Nearly 30% felt business activity may return to pre-pandemic levels by April-June of 2021.</p>.<p>But Covid apart, the data released by CII shows India Inc’s business confidence had begun to deteriorate since the beginning of the previous financial year itself. In the January-March quarter of the financial year 2019-20, the business sentiments ran as high as nearly 65.2. Thereafter, in the next four consecutive quarters, it remained below 60, before dropping to 41 in the June quarter for 2020-21.</p>.<p>CII Director General Chandrajit Banerjee said while a recovery is under way, it could be tremendously expedited through continued government support and handholding of businesses during this crisis.</p>
