Uncertainty grips sectors, says Ficci

A state of uncertainty is gripping over many services sectors, including financial services, software, outsourcing, civil aviation and real estate, due to the global financial crisis, credit crunch and higher interest rates during the recent months, according to a survey by the Federation of Indian Chambers of Commerce and Industry (Ficci).

The feedback gathered from industry shows that while during the first half of current fiscal (April-Sept 2008) there was moderation in the growth of several segments of the services sector, from October 2008 onwards a marked deterioration in performance was seen in many areas.

Uncertainty grips sectors, says Ficci