The findings align with recent national accounts data from the Ministry of Statistics and Programme Implementation, which pegged GDP growth at 7.8% for the first quarter of the fiscal year. Broad-based strength drove these results, with the manufacturing sector expanding by 9.2% and services posting a 10% gain.
Chandrajit Banerjee, Director General of the Confederation of Indian Industry, attributed the improved sentiment to resilient domestic consumption and a stable macroeconomic environment. Both the Expectation Index and the Current Situation Index moved upward, reflecting a trend of rising capacity utilization and firm demand. While executives remain watchful of global trade volatility and fluctuating commodity prices, current internal momentum continues to overshadow external risks.
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