India Inc Optimistic About Country’s Economic Growth This Year

Ever since Narendra Modi has come to the Center, it has come up with several reform initiatives to put the languishing Indian economy back on the growth trajectory track. The International Business Report (IBR) by Grant Thornton, which is a leading assurance, tax and business consultancy firm, has revealed that Indian businesses are optimistic about the country’s economy in 2015.

According to the report, nearly 98% of the businesses suggest that they are positive about the policies of the BJP government, as per a PTI report.

The report further added that nearly 94% of Indian businesses are expecting a rise in revenues this year. And on the other hand, 89% of them are hoping for an increase in profits over the next 12 months.

The PTI report also quoted Vishesh C Chandiok, managing partner at Grant Thornton India LLP National, saying, “The new government has taken significant steps to unleash economic reforms, ease regulatory shackles and improve India's image globally."

Focusing our attention at the exports, nearly 41% of Indian businesses believe that it would grow in 2015, which is much satisfactory as compared to the global average of 18%. The report also added that approximately 53% of the businesses in the country plan to boost investments in infrastructure this year.

Beside this, year 2015 will be bringing out new opportunities for those looking for a job. The report has revealed that employment prospects looks good as 73% of the businesses in the country expect to hire workers.

Ed Nusbaum, CEO of Grant Thornton Global, said, "The prevailing uncertainty is making life tough for businesses, forcing them to delay decisions over investment in the future growth of their operations. Given the turbulent state of global markets, this is understandable. They remain positive about their expansion prospects but certainly less so than three-month ago."
(Image: The Times of India)