India is the most business optimistic country: Survey

The Dollar Business Bureau

India has been termed as the most optimistic country in terms of being a global business destination providing opportunities of increasing revenue, employment and profitability, according to the latest Grant Thornton International Business Report (IBR) survey. 

“India continues to stand out as the one economy which has huge potential to continue to grow and this is reflected in the survey where Indian businesses are most optimistic and high on expectations of increasing revenue, employment, profitability," said Harish H V, Partner - India leadership team, Grant Thornton India.  

The country has bagged the first position in the optimism index for the third quarter of July-September 2016 and had 88 per cent of the respondents voting in its favour. The country ranked second on the index in the previous quarter of July-September. 

The survey notes that Indian businesses are hopeful of an economy recovery in 2017.  

According to Harish, India should look at coming up with new policy reforms as the present environment is conducive to accommodate the changes with GST being one example of it. The reforms should focus on ease of doing business while encouraging the idea of minimum government and maximum governance.  

"That requires a change in mindset among policymakers and implementing reforms in the legal system and contract enforcement. There is an overall increase in global optimism which augurs very well for India in terms of attracting investments and providing markets for Indian products and services globally," Harish added.  

The latest quarter also witnessed India ranking number one on the parameters of employment expectations garnering 62 per cent and selling prices with a vote-share of 68 per cent. The country moved to the second position on the parameter of profitability expectations where it ranked number three in the third quarter.