Painting a gloomy picture of the current economic scenario in the counry, major US investors have said India's GDP was unlikely to grow beyond six per cent.
With over 80 per cent of US companies indicating that GDP growth rate would be less than the average of the last six years (six per cent), the survey conducted by American Chamber of Commerce and Industry said "the perception on future GDP growth is likely to be lacklustre."
The potential of GDP growth beyond eight per cent seems to have been laid to rest even as none of the respondent companies mentioned the growth rate beyond 6.4 per cent.
However, the degree of optimism surrounding the recovery of Indian economy was slightly better with 37 per cent of the respondents looking at recovery by the year end but majority saw recovery only a year or two away.
According to the survey which was released in New Delhi on Thursday, Indian economy seemed to recover faster than the world economy.
Even as most of the companies felt optimistic about the future, there was slight ambivalence about the prospect of member company's own industry.
While 45 per cent feel more optimistic about future, there is concern among 40 per cent of the member companies expressing 'no change' of the economy and 14 per cent member companies being less optimitic about growth in their respective industries, six months hence.