Official now: India's the best place to do biz

zod

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LONDON: India has surged ahead of the G8 economies including former powerhouses Japan and Germany, its nearest rival China and Europe’s ‘Celtic Tiger’ Ireland, in a global survey of business confidence seen to mark a seismic shift in the way world economic power is sliding eastwards.

India’s lead comes for the first time ever in the annual four-year-old survey by Grant Thornton International, one of the world’s leading international organisations of independently-owned and managed accounting and consulting firms based in more than 110 countries.

Graeme Forbes, a partner of Grant Thornton said on Friday that the survey, carried out among more than 7,000 owners of medium-sized businesses from 30 countries last autumn 2005 gave Indians the right to be bullish about the future.

He said that the survey, which canvassed a mixed bag of domestic and foreign business owners underlined a startling optimism on the Indian front. The survey says the most optimistic business owners of all, for the third year, are in India with an optimism/pessimism balance of +93, a relentlessly upward surge from +88 in 2004, +83 in 2003 and +25 in 2002.

India’s score is a dramatic contrast to the slump in US business confidence, which comes in at +32, less than half what it was in 2004. The UK, as well, stressed Forbes, is suffering the ill-effects of a Western economic flu, with business confidence falling dramatically from +46 to just +8, lower than the overall European Union average for the first time ever.

onedmc

The're certainly much more up front about taking bribes. So yea, I suppose it is easier to do business