There is a stark juxtaposition in the export growth expectation levels of Indian businesses, which stands at 65%, against the Asia-Pacific region average of 30%
Despite covid-19-generated economic uncertainty, 71% of Indian business leaders are optimistic about the economy’s rebound to higher growth in 2021, than the global average of 57% for the world economic recovery, says Grant Thornton International Business Report.
The bi-annual global survey gathers responses from nearly 5,000 business leaders in 29 economies, including the G20.
“The government’s consistent push for ‘Make in India’ and rising interest from companies and governments across the globe in meeting their sourcing requirements from India will pave the way for robust exports,” said Vishesh C. Chandiok, chief executive officer, Grant Thornton Bharat.
While the report ranks India’s optimism the highest for growth in export in 2021, its increase in investment expectations is highest in new buildings, second-highest in plant and machinery and R&D and third highest in technology, among the 29 surveyed countries.