India Inc optimistic about biz, jobs

Indian businesses are increasingly optimistic about the economy and are hopeful of a "strong start" in 2013 on key indicators of revenues, jobs and profits, according to survey by accountancy firm Grant Thornton International.

The survey titled "International Business Report" (IBR) released on Thursday said that optimism among Indian business owners is 71 per cent, a rise of 13 per cent, compared to the global average rise of 4 per cent. It further said that the low optimism globally is in contrast to 23 per cent observed in the first half of 2012.

Hopes of an increase in revenue (85 per cent), followed by employment opportunities (84 per cent) and profitability (71 per cent) are key factors for driving optimism among Indian businesses,.

Commenting on the report, Grant Thornton India Partner Munesh Khanna said: " “Global economic scenario and certain inherent domestic risks notwithstanding , the Indian economy, on the back of positive measures such as policy changes, mega project clearances, regulation implementation and anticipated interest rate reduction is poised to grow at an accelerated growth trajectory. This is reflected in the increased optimism levels among Indian Businesses.”

The survey that covered about 3,200 business leaders in 44 economies suggested that the ongoing fears of Eurozone crisis and global uncertainty over the US "fiscal cliff" contributed to a perception of muted growth prospects globally.
Regionally, the IBR reveals a more mixed picture.

Business optimism in the emerging markets of Latin America remained relatively stable over the last year, and actually increased to 69 per cent in Q4, up from 61 per cent this time last year. The BRICS economies (34 per cent to 39 per cent) also remained consistently optimistic, while Asia Pacific (exclusively Japan) has seen a rise from 23 per cent to 28 per cent over the same period, the report said.

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