New Delhi, June 20 (KNN) A momentum of growth has continued in quarters of Q-4 (Jan-Mar 2021-22) and Q-1 April-June (2022-23) after experiencing revival of Indian manufacturing in the first three quarters of 2021-22.

The hiring/employment outlook is expected to pick up after a long gap, according to FICCI’s latest quarterly survey on manufacturing sector.

The survey noted that 54.8 per cent respondents reported higher production levels in Q-1 (April- June 2022-23), with an average expectation of increase in production by over 10 per cent.

Responses have been drawn from over 300 manufacturing units from both large and SME segments with a combined annual turnover of over 3 lakh crore.

The quarterly survey assessed the sentiments of manufacturers for Q-1 April-June (2022-23) for twelve major sectors namely Automotive, Capital Goods, Cement, Chemicals, Fertilizers and Pharmaceuticals, Footwear, Machine Tools, Metal & Metal Products, Paper Products, Textiles, Toys, Tyre and Miscellaneous.

In Q-1 April-June 2022-23, 80 per cent of the respondents expect either more or same level of inventory, which is a bit lower as compared to the previous quarter, where around 90 per cent respondents expected either more or same level of inventory.

The outlook for exports seems to be positive as 53.4 per cent of the respondents expect an average increase of 15.2 per cent in exports in Q-1 2022-23 as compared to the first quarter of last year.  (KNN Bureau)