Centre for Monitoring the Indian Economy (CMIE) on Thursday said country's investment cycle is improving, but is still very weak.
In an interview to Mahesh Vyas, managing director and chief executive officer, said, "The index of industrial production (IIP) has shown us that there is substantial increase in electronics, automobiles, cement and steel as well."
“So, what we are seeing right now is volume increase, because of the base effect. We are looking at an increase in sales because of price effect,” Vyas added.
According to him, "Beside those sectors we mentioned earlier that are doing well, we also see the RBI’s order books, inventories and capacity utilisation survey (OBICUS) telling us that the capacity utilisation has gone up."