India's economic confidence at robust levels: survey

India's economic confidence at robust levels: survey
According to a survey by global research firm Ipsos, India's economic confidence has been on an uptrend, with the country now ranked in sixth place in terms of the world's most economically confident nations.

The "Ipsos Economic Pulse of the World" showed that India trails Saudi Arabia, Germany, China, Sweden and Canada in a survey of the countries with most economic confidence. India's economic confidence level climbed by 10 points to 61 per cent in February, Ipsos said.

The survey showed that almost 37 per cent of Indians believe that the local economy is in a healthy shape, boosting the outlook for consumer spending in Asia's third biggest economy.

Foreign investors are pumping in funds into India amid hopes of a stable and growth friendly government which will push reforms and accelerate economic growth."Bullish foreign investors are returning to India and plowing in billions of dollars into Indian equities, in anticipation of a more business-friendly government winning the general elections this spring", the report said.

"The upbeat Economic Confidence is aided by resurgence in exports due to global economic revival, appreciation of rupee, improved performance of industry and services and moderation of inflation in India," the report added.

Dion Global Solutions Ltd.

Story first published: Wednesday, April 9, 2014, 9:10 [IST]
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