After young Indians, even Indian Business executives most optimistic in the world
Time and again different surveys conducted show that positive growth trend in India is here to stay. It is not only the foreign corporations and investors, but Indians itself are also very positive about Indian economy and growth.
Last month I had published a post regarding a survey that showed that Young Indians are the most happiest and optimistic about their future prospects. Now according to latest McKinsey global survey of Business executives, Indians are most optimistic about Indian economy across the world.
According to the Economic and Hiring Outlook survey by McKinsey for the latest quarter, 77% Indian executives said they think the economy would get ?better? in six months. This is the highest for the executives from any other region including China, Europe, North America and other Asia-Pacific nations.
The optimism level of 77% in India is considerably higher than the global average of 36% and the Asia-Pacific average of 46%. In China, 65% executives said they expect the country?s economy to improve in the next six months, while it was just 26% in North America.
On inflation, 19% Indian executives said they expect it to decline in the next six months, which was the highest for any other region and significantly above the global average of 9% and Asia-Pacific average of 4%. In China, 13% said they expected inflation to moderate.
Off-course, India has challenges like Infrastructure and corruption that it has to fight out, however these factors seem to have little effect on the pace of growth of economy.
Sereen,
Thanks for your comment. Infact, I have been reading Shanta’s and his teams blog at worldbank. He has lot of insightful posts, especially the one you mentioned…
Not only Indians seem to feel very positive about their country’s growth prospect, but the entire world as well. In this context, I found really interesting a recent post by Shanta Devarajan, the Chief economist for South Asia at the World Bank. His posting is titled “Inconvenient Truths” of India’s growth. Among other things, he says that the statement that “India is growing” is technically incorrect, since growth is being driven by only a few savvy States in the South and West of the country. Also, it is amazing to think that for all the buzz about the country’s economic boom, 700 million Indians still live with less than $2 a day. You can see the post here:
http://endpovertyinsouthasia.worldbank.org/four-inconvenient-truths-about-indias-economic-growth