According to a recent survey, Indian economic growth could be headed towards a surge as a whopping 64 per cent of corporates are optimistic about the country’s economic growth over the next 12 months.
India has been ranked fourth in business optimism. Approximately 64 per cent of corporates are optimistic about the country’s economic growth over the next 12 months. These facts have come up in a recent survey that clearly reflects the sentiments of Indian citizens.
As per the International Business Report (IBR) of Grant Thornton’s that released on Tuesday, Philippines topped the chart with 73 per cent respondents being optimistic about economic growth of their country, followed by Vietnam (72 per cent) and Indonesia (66 per cent).
Further, the IBR noted that world optimism has degraded to a three-year-low level and economic uncertainty remains high.
The report states that India has recently shifted to rank five. This is based on the fact that IBR gathers responses biannually from 5,000 business leaders in 35 economies, inclusive of the G20 members. It has a sample size of over 250 respondents in India.
Moreover, on the selling prices and profitability expectation parameters, the country stands tall at the eighth and fifth position respectively.
The survey reports that in the second tenure of the government, Indian businesses are optimistic about a rise in employment. However, Chandiok expressed that Indian businesses are concerned about the lack of skilled workforce growth.