Majority of business leaders confident of economy: LinkedIn

Business

oi-Staff

By Super

Published: Friday, July 25, 2014, 9:13 [IST]

NEW DELHI: Buoyed by formation of a business friendly government, a vast majority of the country's business leaders are optimistic about the growth of the domestic economy, says a survey by professional networking site LinkedIn.

The survey conducted every quarter among 13,000 business leaders across 15 countries found that India was among the few nations that showed a significant increase in confidence towards their respective domestic economies.In the April-June period, 90 percent business leaders surveyed by LinkedIn were expecting improvement in the nation's economy compared to 53 per cent in the January-March quarter this year.

"The Bharatiya Janata Party's ( BJP) pro-business and pro- job creation agenda and its extremely strong showing in India's 2014 general election in May is a likely spark for that impressive increase in economic confidence," LinkedIn said.Besides India, countries which also showed rise in optimism in their domestic economy were United Kingdom (73 per cent), Spain (58 per cent), Japan (46 per cent) and Italy (41 per cent). France and Brazil witnessed the maximum decline at 7 per cent each on the parameter.Moreover, around 71 per cent of the business leaders in the country surveyed during April-June quarter this year have also expressed confidence in the global economy compared to 51 per cent in the first quarter (January-March) of 2014.

"While India had the most dramatic increase in confidence in the global economy, France, Canada and Brazil decreased the most, at 10 per cent, 5 per cent and 5 per cent, respectively," it added.

PTI