50% of Indian firms say macro growth isn’t fully translating: CII survey
A CII survey reveals that 50% of Indian businesses feel that strong macroeconomic growth indicators are not fully reflected in their actual business performance. While business confidence has risen due to easing geopolitical disruptions, many firms report subdued demand and weaker-than-expected growth.
Why it matters
The disconnect between headline economic data and ground-level business performance is a critical indicator of the health of the broader economy.
Half of Indian businesses have reported that the country’s strong macroeconomic performance has either not translated into improved business performance or has done so only partially, according to the latest edition of the Confederation of Indian Industry’s (CII) Business Outlook Survey.
This finding comes at a time when questions have been raised about whether the economic growth numbers put out by the government are reflective of the situation on the ground.
However, the composite business confidence score in the CII Business Outlook Survey for July-September 2026, looking at the current situation as well as the future expectations, rose to 66 in Q2 from 60.8 in the first quarter of this financial year. The score in Q2 of this year was the same as in Q2 last year.
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