Related Posts
Popular Tags

Optimism Persists Among Indians Despite Job Cuts, Slowing Growth

Optimism Persists Among Indians Despite Job Cuts, Slowing Growth

India has emerged as the third most optimistic nation globally in July, according to the latest Ipsos What Worries the World monthly survey, standing out amid widespread international pessimism. Two in three Indians (66 per cent) said they believe the country is headed in the right direction, marking a 2 per cent increase from June.

India ranks only behind Singapore (84 per cent) and Indonesia (72 per cent) in national optimism, outperforming Malaysia (62 per cent), South Korea (59 per cent) and Argentina (51 per cent). The data indicates that overall optimism is concentrated in Global South markets, while several major economies continue to express widespread disillusionment. Peru (12 per cent) and France (14 per cent) recorded the lowest levels of public optimism, according to the survey.

Globally, six in ten citizens feel their country is moving in the wrong direction. Of the 29 countries surveyed, 23 reported a majority of citizens expressing pessimism about the future. Australia displayed notably divided sentiment, reflecting a politically and socially polarised population.

Suresh Ramalingam, CEO of Ipsos India, said India’s optimism is rooted in strong economic fundamentals. “India’s GDP is projected to grow at 6.5 per cent in 2025. With its recent ascent to the position of the world’s fourth-largest economy, coupled with strong growth momentum and political stability, the country is well-positioned for sustained development. This optimism is clearly reflected in how Indians perceive their nation today,” he said.

Ramalingam added that India’s market strength is largely driven by domestic consumption and the country’s favourable demographic dividend. “The Indian economy continues to demonstrate robust upward momentum, even as several global markets struggle with stagnation and uncertainty,” he noted.

Despite this optimism, the survey highlighted rising public concerns over economic and social conditions. Worry levels in India increased sharply for inflation, which rose by 11 per cent, and unemployment, up 8 per cent from the previous month. Citizens also reported slight increases in anxiety over education (3 per cent) and crime and violence (2 per cent).

“Despite a decline in food inflation, the high cost of living continues to burden citizens, driven by rising prices of essential commodities,” Ramalingam said. He cited a combination of global factors, including a slowing global economy, depreciation of the rupee against the US dollar, and revised trade tariffs announced by the Trump administration, as contributors to ongoing uncertainty.

Employment concerns have also intensified, Ramalingam said. “Major corporations have announced job cuts, while stringent employment and immigration policies under the ‘Make America Great Again’ agenda are affecting job prospects. These policies are not only influencing employment opportunities but also impacting education, particularly for students aspiring to study or work abroad.”

Other global concerns reported in the July survey include crime and violence, which remained steady, inflation, which fell slightly by 1 per cent, and poverty and social inequality, which showed no change.

Overall, while the majority of the world remains pessimistic about national direction, India’s citizens display cautious optimism, signalling confidence in the country’s economic trajectory and governance. Analysts say this sentiment could translate into sustained domestic consumption and resilience in the Indian market amid ongoing global uncertainty.

Source – https://www.businessworld.in/article/optimism-persists-among-indians-despite-job-cuts-slowing-growth-567434

Leave a Reply