India high on confidence: Survey

By , agencyfaqs! | In Others
Last updated : February 27, 2007
According ACNielsen's 46-country consumer survey India continues to ride high on a wave of strong consumer confidence

The consumer

confidence in India continues to be on a high. The latest AcNielsen Survey proves this. For the fourth time in a row of this half yearly survey, India leads the list of countries in terms of consumers' confidence.

In comparison to the previous round of the same survey, when India scored 131, this time, the score has risen to 137, which is again an all-time high score.

Just like the previous round, India is followed by the two Scandinavian countries Norway and Denmark with individual scores of 134 and 129, respectively.

The reason attributed to this increase in consumers confidence among Indians is the economic boom.

"The survey spells and reaffirms the solid performance of the Indian market in terms of economic growth, job prospects and the booming young adult population, who will soon become the major driving force in the global economy," says Sarang Panchal, executive director, ACNielsen, South Asia.

Close to 95 per cent of the respondents have given a high rating to the job market and are exceedingly feeling bullish about the state of their personal finances in the next year.

Despite sustained consumer confidence, consumers across the globe continue to cite the economy, health and job security as their major concerns over the coming six months. Also, the level of concern for the economy and health has declined moderately since the first half of 2006.

The surge in incidents of terrorist attack is one of the largest concern for Indians. Almost 31 per cent of Indians substantiated this. However, globally only 15 per cent consumers considers terrorism as a major issue. In the UK and Denmark, these figures stand at 26 per cent and 25 per cent, respectively.

When it comes to investments, Indian seem to be keen in investing in shares and mutual funds. The number of Indian in favour of this statement has also grown in comparison to the previous report. In the last study, only 40 percent Indians voted for the same, while this time, the same has grown to 49 per cent. The other hot investment sector among Indians is the realty sector. People are inclined in buying new properties as well as renovating the old properties.

The survey suggests that the spare cash in hand among Indians has increased over the years, currently they are in the mood to exhibit to the world, a flamboyant, and high quality living, which is also affordable.

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First Published : February 27, 2007
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