According to a CEO poll conducted among members of the CII National Council, the Indian economy is all ready for a strong recovery with a growth rate of 9-10% in the current fiscal year.

However, many of the CEOs surveyed appeared to be concerned about the impact of the new COVID variant, Omnicron, on the service and manufacturing sectors.

In terms of growth, about 10% of poll CEOs believe that it could even exceed 10% between 2021 and 22 years, the CII said in a statement on Sunday.

“The government is focused on public works, with timely interventions to increase liquidity and several reforms, including deregulation, production-linked incentives, RoDTEP and other bold reforms, to raise the economy. It supports optimism about growth, “said CII President. TV Narendra Modi.

The poll is based on the responses of about 100 CEOs.

Regarding the business impact of Omicron, 55% of CEOs surveyed predict that the spread of a new variant of coronavirus will adversely affect the service sector, and another 34% of CEOs will adversely affect manufacturing. Said there is a possibility. Activity.

According to a CEO poll, 56% of respondents said the economy would grow in the 9% to 10% range between 2021 and 22 and another 10% would grow above 10%. I was expecting it. This year, CII said.

Respondents are also positive about business sentiment, with 35% of CEOs showing that this year’s revenue increased by 10-20% compared to the year before COVID (2019-20). 33% expected a significant increase of over 20%.

In addition, about 35% of CEOs surveyed expect gross profit to increase by more than 20% compared to pre-Covid years, with an additional 17% showing an increase of 10% to 20%.

This optimistic view among CEOs is despite more than one-third (70%) of CEOs observing that supply chain bottlenecks are causing problems in the movement of goods in industry sectors. , The release states.

In addition, given the recovery in business activity this year, 59% of CEOs said their occupancy rates are currently in the 70% to 100% range, and 18% felt it was possible. Must be 100% or higher.

A similar percentage of CEOs (62%) surveyed their expected capital spending from 2022 to 23 at up to Rs 500.

In addition, 71% of the CEOs surveyed said they had not raised resources in the Indian or global markets over the past year, 18% said they had raised debt, and another 11% said they had raised stock. rice field. Indian or global market for the past year.

Regarding expected export growth, 35% of CEOs surveyed showed up to 20% increase in exports compared to pre-Covid years in 2019-20, with 24% remaining the same as in 2008. I felt there was.

Interestingly, about 10% of CEOs have shown that this year’s corporate exports have increased by more than 50% compared to 2019-20 before COVID.

In terms of imports, 73% of CEOs say less than 10% of their imports come from China, while another 22% say that imports from China range from 10 to 25 per capita. I said there is a possibility. Cent.