FICCI’s latest quarterly survey assessed the sentiments of manufacturers for Q2 (July–September 2018-19) for 12 major sectors namely electronics and electrical among others. Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over 2.8 lakh crore. The survey on manufacturing portrays positive outlook for the manufacturing sector in Q2 (July–September 2018-19) as the percentage of respondents reporting higher production in Q2 has increased significantly vis-à-vis previous quarter 1QFY19. The proportion of respondents reporting higher output growth during the July–September 2018 quarter has increased to 61 percent from 49 percent in April–June 2018. This is the highest percentage of respondents expecting higher production since 2QFY16 where 63 percent of respondents expected higher production – 12 quarters high. The percentage of respondents reporting low production has also decreased to 9 percent in 2QFY19 from 13 percent in 1QFY19. In terms of order books, 57 percent of the respondents in July–September 2018 are expecting higher number of orders against 49 percent in April–June 2018.
2018 was not in our favor as the sales of air conditioners witnessed a steep decline. 1.5-ton capacity with 3-star rating split models contributed 70 percent to sales. We are...Read More