Reflecting subdued sentiments, India has been ranked fourth globally in terms of business optimism, as only 64 per cent of corporates are optimistic about the country’s economic growth over the next 12 months, says a survey.
Earlier, India had stood at sixth position with 78 per cent of the total respondents showing confidence in the economic growth for the April-June 2018 period.
According to Grant Thornton’s International Business Report (IBR) released on Tuesday, Philippines topped the chart with 73 per cent respondents being optimistic about economic growth, followed by Vietnam (72 per cent) and Indonesia (66 per cent).
The IBR further noted that global optimism has fallen to a three-year-low level and economic uncertainty remains elevated.
“In tandem with the subdued economic optimism, India Inc’s dismal sentiments reflect in its expectations for an increase in revenue, selling prices and profitability,” said Grant Thornton India LLP Chief Executive Officer Vishesh C Chandiok.
