Skip to main content

India 2nd most optimistic in biz optimism, says report


India Inc has emerged as the second most optimistic in terms of business optimism globally with a survey showing that 86 per cent of Indian respondents are bullish about an increase in revenue of their companies.

According to the Grant Thornton International Business Report, a quarterly global survey of 2,580 business leaders, India ranked second after Ireland in terms of the business optimism.

Business confidence and expectations for revenue and exports are down in several major economies that have China as a major trading partner.

"India is relatively insulated from the slowdown in China and sees a slight gain in confidence, despite falling exports," the survey said while taking note of RBI's recent interest rate cut by 50 basis points to support growth.

As per the survey, 86 per cent Indian businesses are optimistic about an increase in revenue compared to 83 per cent last quarter. Moreover, Indian businesses are also positive about profitability with 69 per cent respondents expecting a rise in the profits.

"Indian businesses have been consistently optimistic in their business outlook over the past decade barring a couple of quarters. This is based on the underlying strength of the economy, the consistent high growth rate, the entrepreneurial dynamism in being able to create new opportunities and businesses and the lower reliance on global trade based on significant domestic demand," Grant Thornton India LLP Partner - India Leadership team Harish HV said.

However, there was further fall in optimism on the rise of employment aspect with only 52 per cent Indian businesses hoping for the same.

"The concern based on the results of this survey is the pessimism on employment, which is a key factor and need for the country given the demographic dividend which could turn into a demographic nightmare without adequate employment generation. The Government's thrust on 'Make in India' needs much more push to make it a reality and that could salvage the situation," the report added.

The survey noted that ICT (Information Communication Technology) infrastructure is the biggest concern for Indian Businesses followed by lack of skilled workers and red tape. Also, there is not any major improvement in the expectations of an increase in R&D activities and exports in the country from the last quarter.

(BS)

Comments

Readers Choice

Lead Your Team Into a Post-Pandemic World

During the Covid-19 crisis, I’ve spoken with many CEOs who have shared that a key priority for them, naturally, has been the safety and well-being of their employees. And there are many examples of inspiring actions taken by CEOs and companies in support of their employees. But as we’ve come to recognize that this crisis will last more than a few short weeks, companies are now defining their approach for the long haul. I’ve seen two crucial ideas take hold with corporate leaders. One: Given the magnitude of the shock and the challenges that this crisis represents, companies must consider the full breadth of their employees’ needs as people. Safety is essential, of course, but it’s also important to address higher-level needs such as the want for truth, stability, authentic connections, self-esteem, growth, and meaning in the context of the crisis. Two: Many CEOs have begun thinking about this crisis in three phases. They may assign different names or specific lengths to t

4 Ways Google Search Can Help You Achieve Your Marketing Goals

Google Ads Google Ad extensions are a great way to add key descriptive text without taking up space in your actual ad and improve your quality score for even better results. It’s a win-win right? Google Maps Is your business discoverable on Google Maps? For small businesses, adding detailed information and the use of strategic keywords can be helpful for a better location optimization. Google Ranks SEO is vital for moving up in Google rankings. To climb up the ladder, incorporate top keywords in page titles, meta tags and focus on consistently delivering relevant content. Backlinking If SEO is the the only strategy you have, it is the right time to change that. Start adding backlinks to your content. Quality backlinks can further increase your brand authority. 

Twenty Smart Business Buzzwords

Some words may grate on your nerves, but business leaders are still using "disrupt," "synergy" and "ideate." You should too. Spend any amount of time in a corporate environment and you'll likely notice there are some words that seem to come up on a daily basis. Certain verbiage becomes part of the  corporate culture  and soon, you may feel as if you need to use it to fit in. While they can change from one day to the next, most corporate buzzwords have a positive meaning. They're used to boost morale and motivate everyone involved in the conversation. Here are 20 of the top business buzzwords that you should make an effort to work into your vocabulary. 1. Impact Impact is a powerful word that has become a favorite of business professionals.  Grammarians argue  that the word is being used improperly, urging you to use "affect" instead, but businesses love it. 2. Corporate Synergy Half of the people who use this term likely