Going by the findings of a Micro, small and medium enterprises' (MSME) outlook survey conducted by the Confederation of Indian Industry (CII), the ongoing fiscal's second quarter was an upsurge point for the MSMEs, which reportedly saw a notable rise in production, demand and overall turnover.

The survey, pertaining to nearly 300 MSMEs, revealed that nearly 45 percent of the respondents said that they had registered an increase in their income; while 42 percent said that their production had increased.

In addition, 32 percent respondents reported an increase in profitability, while 38 percent witnessed an increase in their order bookings.

These figures were a dramatic contrast to the first-quarter figures, with 42 percent respondents had registered a fall in their turnover, and 43 percent has seen a plunge in their profitability.

Further, in terms of exports, almost 22 percent of the surveyed MSMEs reported an increase, as against only 17 percent respondents registering an increase in the earlier quarter that ended in June.

Noting that the survey underscores the likelihood of the positive sentiment being carried forward into the second half of the fiscal, CII National MSME Council chairman, Salil Singhal, said: "It appears that the worst of the crisis is over and a turnaround seems within sight for most of the industry."