India most upbeat in Asia about business: survey
Wednesday, 10 January 2007, 18:30 IST
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Singapore: Business sentiment in Asia is at an all-time high with India the most upbeat, followed by the Philippines and China, according to an accounting firm's survey released. Grant Thornton International's poll of 7,200 leaders of private firms in 32 countries found Asians the most confident in the world as they looked ahead to the next 12 months. Asian countries took the top four spots on the list. India was the most upbeat with 97 percent of the respondents optimistic. The Philippines followed with 98 percent, China with 85 percent and Singapore was in fourth place with 84 percent. The poll was included in the firm's business report for 2007. "For the first time in five years, the findings of our survey don't appear to be influenced by extraordinary global events, such as terrorism, natural disasters or potential health threats," Kon Yin Tong, managing partner of Singapore member firm Foo Kon Tan Grant Thornton, told Singapore's Business Times newspaper. "The optimism in Asia, particularly India and China, is at an all-time high," he added. Ireland, the Netherlands, South Africa, Hong Kong, Sweden and Argentina filled the remaining top 10 spots with the global average at 45 percent. The results showed a re balancing of the economy with growing optimism in Europe and a more bearish outlook from US business owners. "However, their level of confidence cannot match the emerging economies, especially India and China," Kon said.
Source: IANS
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