Yesterday, a pair of surveys arrived that nicely captured the contradictions of business in India. The first, the MasterCard Worldwide Index of Consumer Confidence, proclaimed Indian consumers as the most optimistic throughout Asia. Their optimism, the report concludes, is "both deep-rooted and all-pervasive." The survey polled respondents on their perceptions of quality of life and economic indicators---income, employment, the stock market, and the overall economy. And India bested the other 24 nations:
Of the four cities surveyed in India, Bangalore scored the highest (100 Index points) thus giving a boost to the overall score. Consumers in Chennai (79.0) and New Delhi (78.7) also showed optimism with the index points being in a stable range. Surprisingly, Mumbai recorded the least score in consumer confidence with 69.3 Index points in the first half of 2012. The positive outlook of the consumer confidence in all four cities contributes to India’s current high optimism.
The survey is less rigorous than an academic study. But it might ease the concerns of foreign and domestic investors, particularly after the scrutiny the nation has received since the blackout earlier this week.
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