1. Another bad news for Modi; now, India falls from top five most promising markets globally

Another bad news for Modi; now, India falls from top five most promising markets globally

India features among top six for global executives when it comes to overall growth prospects over the next 12 months, but enthusiasm for investing in the country has dropped from three years ago...

By: | New Delhi | Updated: January 18, 2017 10:53 AM
India features among top six for global executives when it comes to overall growth prospects over the next 12 months, but enthusiasm for investing in the country has dropped from three years ago, finds out a survey. (Reuters image) India features among top six for global executives when it comes to overall growth prospects over the next 12 months, but enthusiasm for investing in the country has dropped from three years ago, finds out a survey. (Reuters image)

India features among top six for global executives when it comes to overall growth prospects over the next 12 months, but enthusiasm for investing in the country has dropped from three years ago, finds out a survey. According to the annual global CEO survey of consultancy giant PwC, released here at the WEF annual meeting, the top two markets from the growth point of view are the US, as voted by 43 per cent of respondents, followed by China (33 per cent). Others in the pecking order are Germany (17 per cent), UK (15 per cent), Japan (8 per cent) and India (7 per cent). Last year, India was among the top five most promising markets globally.

“Over time, CEOs have become less enthusiastic about India perhaps because structural reforms have been slow to come (and there have been recent short-term difficulties with its rupee conversion programme),” the survey noted.

WATCH VIDEO | IMF Says India To Be World’s Fastest Growing Economy In 2017, 2018

It further said “nevertheless, it still stands out for its robust growth and monetary and fiscal reforms”.

As per the findings, the changeability of markets, exacerbated by currency volatility, has caused CEOs to turn to a greater mix of countries. This year’s study shows that the US, Germany and the UK have become bigger priorities while willingness to invest in Brazil, India, Russia and Argentina has lessened from three years ago.

CEOs around the world feel they have plenty to worry about in the year ahead. Their confidence in companies’ growth prospects and outlook for the global economy are back on the rise.

Watch this video

Globally, 38 per cent of CEOs are very confident about their companies’ growth prospects in the next 12 months while 29 per cent believe that global economic growth will pick up in 2017.

While business leaders are more positive in their outlook, their levels of concern about economic uncertainty, over-regulation and availability of key skills remain very high.

Also, worries about protectionism are growing, with 59 per cent of CEOs concerned about protectionism, whereas the figure stands at 64 per cent in the United States and Mexico.

“Despite a tumultuous 2016, CEO confidence is moving back up – albeit slowly and still a long way from the levels we saw back in 2007. But there are signs of optimism right across the globe, including in the UK and US, where despite predictions of a Trump slump and a Brexit exit, CEOs’ confidence in their company’s growth are up from 2016,” said Bob Moritz, Global Chairman, PwC.

A significant 71 per cent of India’s CEOs are very confident of their companies’ growth in the next 12 months, a 7-point increase over last year’s and 33 points above this year’s global average (38 per cent).

“Confidence in the Indian economy is reflected in the optimism of Indian CEOs in their company’s growth. It re-instates India’s growth story, backed by the government’s reform agenda. Availability of key skills and disruption caused by technology continues to be a concern,” PwC India Chairman Shyamal Mukherjee said.

  1. B
    Biswajit
    Jan 18, 2017 at 9:35 am
    PWC this company helped Satyam to cook its book its giving a report I m sure 100% biased
    Reply
    1. S
      Shfbbdnsjs
      Jan 17, 2017 at 5:32 pm
      Is it a bad news for modi only and not for country?? Which country u people belong ?? stan
      Reply
      1. M
        Milz
        Jan 18, 2017 at 10:14 am
        We don't need enemies, our Media is good enough to the country perception abroad. I seldom see American or British media putting up such headers even when the situation is really bad.
        Reply
        1. P
          Prashant
          Jan 17, 2017 at 10:16 am
          Cauz u ppl nvr accept the impact of wrongdoin of congress, rahul, sonia ect. Remember what is happening today is ipact of what u did yesterday.. new gvt is tryin to control u will see impacts but wait b4 dt u wnt to p ur judgment. Wait for 5 years nd see d change..
          Reply
          1. Tarang Bhagat
            Jan 18, 2017 at 5:47 am
            this is bound to hasppen when illitrate joker is voted into power
            Reply
            1. N
              Nath
              Jan 17, 2017 at 8:21 am
              iT IS A GOOD NEWS. INDIA SHOULD FIRST ELIMINATE THE ROTTON SYSTEM LANGUISHING OUR ECONOMY FOR MORE THAN 70 YEARS. NOW ALL MONEY IS BACK IN THE SYSTEM ONLY FIFTY 50 %IS RELEASED. EVERY ONE HAS TO AVAIL BANKING CHANNEL.TAX COLLECTION WILL BE UP.CASH TRADINGS WILL BE STOPPED .EVERY ONE HAS TO START FROM ZERO. NOW THERE WILL BE REAL COMPEION AND ECONOMY BOUND IMPROVE. OPPOSITION ,.RULING PARTIES,DIDI,KEJRI,RAHUL SHOULD BE WARNED NOT TO RESORT TO CASH ECONOMY.
              Reply
              1. A
                arman islam
                Jan 17, 2017 at 9:07 pm
                Can you provide growth expectation data for preceding 10-12 years ? BY THE WAY YOU GOT TOTALLY WRONG NOTION CALLING THIS AS MODI's bad news ! WHAT ABOUT INDIA ? Please, behave like a sensible and mature journalist .
                Reply
                1. A
                  arman islam
                  Jan 17, 2017 at 9:17 pm
                  ILL DEEDS / MISDEEDS of CONGRESS RULING FAMILY OF POST INDEPENDENCE ERA HAVE TO BE CORRECTED FIRST BEFORE INITIATING PEOPLE-based INDIA'S GROWTH . LEARN TO APPRECIATE THE GREAT STEPS ALREADY TAKEN BY PRESENT GOVERNMENT . STOP ACCUSING MODI ALL THE TIME. FORGET NOT THAT INDIA IS ABOVE ANY INDIVIDUAL . THIS GOVE IS BEING RUN BY PEOPLE's REPRESENTATIVES AND FOR THE COMMON PEOPLE . STOP SINGING THE AGE OLD CRIPPLING SONG OF WORLD'S MOST CORRUPT POLITICAL DYNASTIC FAMILY . ... REMEMBER INDIA IS FOR CITIZENS OF INDIA. AGE OF FAMILY RUN BUSINESS IN THE NAME POLITICS AT NATIONAL LEVEL IS OVER .
                  Reply
                  1. A
                    arman islam
                    Jan 17, 2017 at 9:00 pm
                    When a teacher erases all rubbishes in a cl room black board to write clear and useful materials for students , you , as an observer , are explaining the blank board and silent students as " completely ineffective teacher in a cl ". What a stupid explanation and conclusion to misguide readers and malign Modi . Modi is PM ...... govt is headed by him. Anything good is done by the govt , will raise the status of economy and citizen's welfare. Your journalism is very anti national. I felt I was reading a stani news paper .Don't you understand a brief decline of any data doesn't necessarily imply doom for Modi ? It doesn't imply India's downfall either. You failed to mention what was the RANK during the last three years successively. You didn't want to do so deliberately . A slight fall was expected for a great move called , 'DEMONITISATION' to erase rubbishes of the past by shameful governments earlier which were congress run or congress backed or the WORLD's MOST CORRUPT POLITICAL FAMILY RUN MISMANAGEMENT OF INDIAN ECONOMY FOR FAMILY'S GAIN disregarding the development and growth of poor and middle cl of India. Very soon , the situation will be different , data will change , nation will look up with hope .... but, your journal will find faults even then comparing faster growth of some other with some other criterion. For God's sake don't shame India by writing stupid analogy . Modi is PM of India . INDIA IS A COUNTRY , A NATION .
                    Reply
                    1. S
                      Satyendra Babu
                      Jan 18, 2017 at 8:39 am
                      The slide will have to be arrested ... lest it gain momentum... & CUTTING corporate tax is not the way forward ! Govt must sell some of the family silver in the form of disinvestment so as to spend on infra projects & kick start the sputtering economy? ha
                      Reply
                      1. S
                        Sreenivas
                        Jan 17, 2017 at 1:22 pm
                        At first place its PwC the same auditing company which was involved in Satyam Computers false reporting of profits for 5,6 years continuesly. And each and every small thing cannot be a bad news for Modi.
                        Reply
                        1. J
                          JM
                          Jan 17, 2017 at 6:58 pm
                          No need to downgrade modi. He is the father of all liers.
                          Reply
                          1. A
                            ashok
                            Jan 17, 2017 at 6:59 am
                            India needs a experienced , educated PM
                            Reply
                            1. K
                              khurshid
                              Jan 22, 2017 at 4:47 am
                              Modi is mother er for country
                              Reply
                              1. K
                                krishnan
                                Jan 17, 2017 at 11:32 am
                                sambhalne ke liye girna padta hai.
                                Reply
                                1. G
                                  Govind
                                  Jan 17, 2017 at 6:57 am
                                  Dear Editor,please stop this negative news. We are the only optimism in the global economy. please stop exposing normal people to negative and pessimistic view about country just for your vested interests. We have strong faith in India's capability to grow and lead the world over a period. its actually useless to visit this site for news...
                                  Reply
                                  1. R
                                    Raghavendra Rao
                                    Jan 18, 2017 at 3:09 am
                                    These open ions are pre-LIBBIED by super powers like USA.These developed countries NEVER ALLOW DEVELOPMENT OF OTHER REGIONS LIKE ASIAN COUNTRIES.If you analyse past data:UK,USA,CHINA,RUSSIA are responsible for arms buildup in INDIA & STAN,other wise WHERE THEY SELL THEIR ARMS & TECHNOLOGY.RUSSIA is also encashing,sold arms to India & stan.Finally they encourage war among CHINA/INDIA/STAN.ALL COUNTRIES ARE PLANNING FOR REMOVAL OF MODI.They are JELOUS OF INDIA.They already trained RAHUL HI IN A SMALL COUNTRY & for sure working hard through DETECTIVES & etc TO CREATE A SITUATION AGAINST MODI.
                                    Reply
                                    1. M
                                      Mahan India
                                      Jan 17, 2017 at 1:07 pm
                                      you are a tax cheat that's why you are sad. How much you have? Anybody happy about India downgrading is a Mother KUCKER
                                      Reply
                                      1. N
                                        Nilesh
                                        Jan 18, 2017 at 3:34 am
                                        Everyone wants prosperity and quotes things as think fit.But only solution is increase in purchase power of maximumans number of Indians of course through right means.
                                        Reply
                                        1. P
                                          Pradeep Raghavan
                                          Jan 17, 2017 at 7:25 am
                                          Now people like you will blame media, opposition, Rahul hi, Sonia hi for everything. Why don't you accept the failures of current government? The government which is headed by a man with fake M.A. degrees and do all bhashan baji and making fake promises.
                                          Reply
                                          1. R
                                            Raghav
                                            Jan 17, 2017 at 7:09 am
                                            Of course, the country is full of tax cheats, scam runners and filth loving people. They don't deserve any prosperity. They just need a piece of cloth and a stick to walk around and say everyone is father of a dumb illiterate unemployable lazy corrupt nation.
                                            Reply
                                            1. Load More Comments

                                            Go to Top