India Is World’s Second Most Confident Economy

28 March 2012 15:30 - Jack Stupple

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India Is World’s Second Most Confident Economy

According to Ipsos, a global research firm, Indians have emerged as the second most confident people about their economy across the world on easing inflationary pressure and increased foreign investments. The report says that India’s economic confidence jumped by nine points in February to 74%, which means that after Saudi Arabia which leads the chart with 90%, India is the second most economically confident economy. Sweden is the third most economically confident country, where 73% are optimistic about their economy, followed by China at 72%, Germany at 71%, Australia at 66% and Canada at 65%.

“The Indian economy has continuously recorded high growth rates and has become the second most preferred destination for foreign investments and business. India’s economic growth is expected to remain healthy in 2012 and 2013 despite likely headwind of double-dip recessions in Europe and the US,” said Ipsos India CEO Mick Gordon.

About 51% of Indian citizens feel their local economy which impacts their personal finances is strong and 56% predict that the economy in their local area will increase in the next six months. Gordon also noted that inflation pressure eased as the wholesale price index fell, making daily consumption items relatively affordable and giving hopes that Reserve Bank of India will ease its monetary policy stance by reducing the policy rates in the coming months which will further fuel economic growth of the country.

 

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