Slowdown to linger 2 years more, India Inc upbeat: E&Y Survey

Even in the crunch time where the economies world over are faltering, corporate India is still upbeat over posting 10% growth rate for the fiscal consenting the ongoing slowdown to continue for the next two years, according to a survey by consultancy major Ernst and Young (E&Y) titled ‘Opportunities in Adversity: India Inc’s response to the financial downturn’.

In the survey, 65% respondents contended that they expected the slowdown to continue for at least two more years, while 27% felt that the slowdown could last 6-12 months.

The survey was conducted with over 120 top management executives and found that 46% of the respondents were confident of posting at least 10% overall growth in the current fiscal.