MCCIA survey suggests, Industrial activities pick up and touch pre-COVID levels

While numbers released on Friday showed that the Indian economy is recovering fast from COVID-19 caused recession, Pune’s industrial activities too have shown remarkable revival, according to a survey conducted by the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA). As per the survey results, 51 per cent of the business organisations which were contacted for the survey have stated that they have achieved pre-COVID-19 production levels.

A press statement issued by the MCCIA said around 100 organisations participated in the survey which was conducted in the Pune district. On an average, the current level of production for February was around 85 per cent with 86% average employee strength achieved.

The survey said more than half of the companies surveyed have already achieved their pre-COVID levels of production while 20 per cent said they hope to achieve the same in the next three months. “13 per cent of the respondents said they expect it to take three to 6 months and 16 per cent said it would take more than 6 months,” the survey said.

MCCIA president Sudhir Mehta said the survey indicated the positive turn in the Indian economy. “Nationally, we are out of technical recession. We are keenly awaiting full recovery in lagging sectors like hotels, travel and transportation. Our monthly survey of companies in Pune district records jump in production as well as employees deployed levels as well,” he said.

MCCIA director general Prashant Girbane pointed out that larger firms have recorded better recovery than smaller firms. ”More than 50% of companies are doing better than they did pre-covid and most others are on their way to full recovery but the micro and informal firms are at least 4-6 months away from full recovery.”

The distribution of organisations surveyed from micro, small, medium and large scale organisations was 9%, 12%, 29% and 50% respectively. Nearly 64% of the organisations surveyed were from the manufacturing sector, 14% from the services sector and the rest were involved in both manufacturing and services