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India tops business optimism survey
By agencies
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Friday, 06 January 2006, 20:30 IST
NEW DELHI: India topped a global survey of business confidence among mid-sized companies leaving the U.S. and Britain languishing, according to an accounting firm Grant Thornton. The findings supported the view that the center of global economic power may be shifting, with India's fellow emerging economic heavyweight China coming in fourth.
India boasted 93 percent of respondents who were positive about 2006 prospects, compared to 88 percent last year. Grant Thorntons Director of International Business, India, Vishesh Cahandiok said, 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. The growing reliance on the private sector and trade liberalization --here just like in China - is proving fruitful for medium-sized enterprises that are taking full advantage.