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Q2 biz confidence drops on US tariff
Business Standard
|October 28, 2025
First decline after 3 qtrs of improvement
A survey conducted by Delhi-based think tank National Council of Applied Economic Research (NCAER) showed that India’s business sentiment dropped during the September quarter (Q2) ofthe financial year (FY26) from the June quarter (1).
This marks the first decline after three consecutive quarters of improvement.
The latest round (134th) of the quarterly Business Expectations Survey was carried out in September, days after the 50 per cent tariff on most Indian goods by the Donald Trump administration kicked in and the government announced goods and services tax (GST) reforms. The survey covered 484 respondents spread across six cities.
The Business Confidence Index (BCI) slipped to 142.6 in Q2 from 149.4 in Q1.
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