NEW DELHI: Nearly 68% of companies have said weak demand is the biggest challenge facing the industry after end of lockdown phase, a survey showed on Wednesday.
About 62% of firms said they expect the economy to be back on track in a year’s time, while 41% of the companies have said that their sales in August 2020 were less than 50% of their sales in August 2019.
Another 21% said that sales in August 2020 were between 50-75% of the sales recorded in August 2019, the survey by Ficci and consulting firm Dhruva Advisors showed.
About 62% of firms said they expect the economy to be back on track in a year’s time, while 41% of the companies have said that their sales in August 2020 were less than 50% of their sales in August 2019.
Another 21% said that sales in August 2020 were between 50-75% of the sales recorded in August 2019, the survey by Ficci and consulting firm Dhruva Advisors showed.
In August 2020, 44% of the companies reported that their order books have improved after opening up of the economy, while in June 2020, 25% of the companies had reported that unlocking of the economy had a positive impact on their order books.
Only 21% of the companies had reported that unlocking had a positive impact on their cashflows in June, while in August, 51% of companies said their cash flows have improved.
