Mid-Year Economic Revival On, Market Outlook Dim

Wait for another six months and the current recession blues could be a thing of the past as businessmen of all hues hope to ride the gravy train once again.

India Inc expects an economic recovery during July-September 2002, though a revival of the stock market seems uncertain, according to a survey carried out by Business Standard. The survey shows that businessmen are betting on various factors to drive them out of the recession and only a handful expect the tension at the Indo-Pak border to escalate into a full-fledged war.

The survey covered 250 decision makers of the corporate world cutting across various sectors like steel, cement, automobiles, banking & finance, entertainment, software, IT-enabled services, pharmaceuticals, fertilisers, hotel & tourism, housing and fast moving consumer goods.

An overwhelming 84 per cent of the respondents covered in the survey said there would be a recovery in 2002. While 14 per cent did not expect a recovery during the year, two per cent were unwilling to give a forecast.