Reuters

India tops business optimism survey 

January 12, 2006  

London : India topped a global survey of business confidence among mid-sized companies leaving the United States and Britain languishing, accounting firm Grant Thornton said.

The findings supported the view that the centre of global economic power may be shifting, with India's fellow emerging economic heavyweight China coming in fourth.

Business confidence in previous high-flyers Britain and the United States dropped particularly sharply in the survey of over 7,000 business chiefs in 30 countries.

India boasted 93 per cent of respondents who were positive about 2006 prospects, compared to 88 per cent in 2005.

"The economy continues to be extremely buoyant, the stock market is breaking all time highs on a weekly basis, foreign direct investment has increased substantially," said Vishesh Chandiok, Grant Thornton's Director of International Business, India.

"The growing reliance on the private sector and trade liberalisation--here just like in China--is proving fruitful for medium-sized enterprises who are taking full advantage," he said.

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