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Indians have lost faith in economy

It is official, the not-so-buoyant global economy has dragged down the optimism level of Indians. According to a 21-nation Pew Global Attitudes Survey released on Monday, Indians have lost more faith in their economy than citizens of any other country.

business Updated: Sep 11, 2012 01:52 IST
HT Correspondent

It is official, the not-so-buoyant global economy has dragged down the optimism level of Indians. According to a 21-nation Pew Global Attitudes Survey released on Monday, Indians have lost more faith in their economy than citizens of any other country.

Pessimism among Indians "stands out", says the report which mentions that only 38% of Indians are satisfied with the way things are going in the country - a 13% drop since last year - and "among the largest drops in national contentment across countries surveyed in 2011-12".

In stark contrast is the optimism in China where 82% gave their country's future a thumbs up. Indian figures were closer to the 29-30% figures of recession-ravaged Americans and Europeans. http://www.hindustantimes.com/Images/Popup/2012/9/11-09-12-pg-01a.jpg

"Indian satisfaction with the direction of the country is descending toward that in Europe and the US," said Pew Research Center's Bruce Stokes.

Chandrajit Banerjee, director general, CII, however, claimed that the reality was not so bleak.

"India is going through a phase of economic slowdown. However, the medium-term prospects of the economy are very positive, owing to its fundamental strengths. Even the short-term challenges can be quite adequately addressed by timely actions, which are within our domestic sphere of influence," shared Banerjee.