India improved its ranking by one spot in a global index of business optimism, the latest Grant Thornton International Business Report for the July-September quarter has placed India second.
“The improvement in the optimism ranking in the recent past clearly reflects that the reform agenda of the government and its efforts on improving the climate for doing business are having an impact,” Grant Thornton India LLP Partner, India Leadership Team Harish H V said. “…all the programs and initiatives of the government as well as its focus on building relationships with all major economic powers has made India a bright spot in the global economy.”
As per the survey, 59 per cent of the respondents have quoted this as an impediment in the growth prospects compared to 64 per cent in the previous quarter. The report is prepared on the basis of a quarterly conducted global business survey of 2,500 businesses across 36 economies.India is flanked by Indonesia in the first spot and Philippines coming in third. The two parameters that helped India climb up the rankings were
India is flanked by Indonesia in the first spot and Philippines coming in third. The two parameters that helped India climb up the rankings were rise of employment expectations and profitability expectations. India ranks first on the employment expectation parameter.
While India continues to be amongst the top five countries citing regulations and red tape as a constraint on growth, for the first time in the year, the country’s ranking on this parameter has dropped from second to fourth.