Ficci Manufacturing Index hits record high in Q3 despite cost pressures

The Ficci Manufacturing Index reached an all-time high in the third quarter, with 91 per cent of firms reporting steady or higher production, up from 87 per cent in the previous quarter, despite production costs remaining on the higher side.
The Ficci’s 68th edition of Quarterly Survey on Manufacturing (QSM) assessed the performance and sentiments of manufacturers for eight major sectors in the third quarter.
These include auto components, capital goods, chemicals, fertilisers & pharmaceuticals, electronics & electricals, machine tools, metal & metal products, textiles, apparel & technical textiles and miscellaneous.
Responses have been drawn from manufacturing units from both large and SME segments with a combined annual turnover of over Rs 3 lakh crore.
Nearly 57 per cent of the respondents reported an increase in the cost of production as a percentage of sales, which is consistent with the previous quarter’s findings, indicating that costs are still on the higher …