The survey, which polled members and company executives of the US-India Business Council (USIBC), showed that a large number of respondents rated future economic growth in India as highly sustainable despite uncertainties in other global markets.

Further, a large section of respondents answered in the affirmative regarding their plans to invest in India in order to establish or expand their operations over the next five years, according to the survey conducted by Ernst and Young.

“India is, and will continue to be, a premier destination for investment,” is the assessment of most of these respondents, it said.

Releasing the 2008 USIBC Business Perception Survey here, Ernst & Young (Transaction Advisory Services) Partner Utkarsh Palnitkar said, “The findings demonstrate the depth of commitment of USIBC member companies to India’s continued economic growth. The news is quite positive — provided that the government addresses several critical issues.”

The survey, however, pointed out that much needs to be done for the Indian economy to become more investor-friendly. They highlighted the need to improve the ease of doing business in India along with the need to enhance its social, physical and urban infrastructure.

In order to drive investor confidence and lower risk faced by business establishments, it emphasised the need to strengthen the country’s intellectual property regime vis-a-vis other emerging Asian economies.
The ineffectiveness of patent laws, the continuing lack of data exclusivity, and a lack of expedient and effective enforcement mechanisms are causing the country to lose out when it comes to investment in R&D, the survey said.