India ranked 6th on Global Optimism Index (GOI) in first quarter of 2018

After topping the chart for four years, India has been slipped to the 6th position globally on the Global Optimism Index in the first quarter of 2018, as per survey by Grant Thornton’s International Business Report (IBR). The report says the business optimism in India has deteriorated while entering the last year of the current regime. Austria topped the index followed by Finland, Indonesia, the Netherlands and the US. The report was prepared on a quarterly global business survey of 2,500 businesses in 37 economies. With regard to India, Grant Thornton stated that the underlying pessimism is reflected in other parameters as well including revenue, selling prices, profitability, employment and exports expectations. Indian businesses have been citing regulations and red tape, availability of skilled workforce, lack of ICT infrastructure and shortage of finance as the biggest growth constraints.