Indian consumers are the most optimistic in the Asia-Pacific region about the future of their country's economy. Most of them believe economic performance has improved over the last six months and more are convinced it will improve over the next 12 months.
Significantly, they are more confident than their counterparts in China, only 75 per cent of who believe their economy will improve over the coming year.
These are the key findings of the latest ACNielsen Asia-Pacific Consumer Confidence and Opinion Survey, the results of which have been made available exclusively to Business Standard.
The earlier round of the survey was conducted in December 2003.
Eighty-five per cent of the 556 Indians surveyed are optimistic that the economy will improve in the next year, compared with the 86 per cent who believe economic performance has improved in the past six months. The rest of the region shares the optimism.
According to the survey, which was conducted online with 9,485 consumers in 13 Asian countries, consumer perception in the region is encouraging.
The increasing confidence levels correspond to an increase in willingness to spend and save among consumers.
Of those polled, 90 per cent (94 per cent for India) said they would spend spare cash, compared with 83 per cent (89 per cent for India) who would reduce debt and 92 per cent (96 per cent for India) who plan to save.
The survey also polled respondents on causes for concern. The new section added in this round of the survey questioned respondents on their willingness to express opinions publicly. Indians cited job security and political stability as their biggest concerns, and also emerged the most likely (47 per cent) to voice their views.
The preferred medium of expression for Indians is writing to newspapers.
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