Indian industry’s worst fears are coming true with companies feeling that the present global meltdown might snowball into a full-blown crisis and last at least till the end of 2012, a Ficci survey released on Sunday said.
The survey titled, “Global meltdown and its impact on Indian industry” revealed that more than 50 per cent of the respondents felt the uncertain economic outlook had also resulted in their holding on to high cash balances in preference to their investment plans for better future opportunities. “Interestingly, nearly 82 per cent of the 50 per cent respondents were large companies,” the survey said.
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