Mid-sized firms bullish on profitability: survey

J.P. Morgan's survey highlights positive outlook for mid-sized cos in India

- Shayan Ghosh

Mid-sized companies, or those with annual revenues within the range of ₹150-16,000 crore, have exuded optimism in the domestic business environment, expecting a jump in profits and plan to add employees in 2024, as per J.P. Morgan's India Business Leaders Outlook survey.

The survey comprised answers from 285 business leaders, including chief executive officers, chief financial officers, heads of finance divisions and owners of Indian mid-sized companies. Over threequarters of those surveyed sounded confident about the prospects of the Indian economy, the performance of the industries they belong to and their companies.

"Mid-sized companies can clearly see that India is well poised to maximize on opportunities," Pranav Chawda, head of commercial banking India, J.P. Morgan said in an interview.