As per recently released report, India was ranked second in the global business optimism index during the third quarter (July-September 2016).
It was revealed by the Grant Thornton International Business Report. India has improved its ranking by one spot in the index.
The report was prepared on the basis of a quarterly conducted global business survey of 2,500 businesses across 36 economies. Earlier in second quarter (April-June 2016) India was ranked third after being on top for two consecutive quarters.
- In the report Indonesia took the top spot and Philippines was placed third after India.
- India was able to improve its rank because of policy reforms and adaptation of Goods and Services tax (GST).
- The improvement clearly reflects that the reform agenda of the government and its efforts on improving the climate for doing business are having an impact.
- Globally, business optimism stands at net 33%, rising 1 percentage point from the previous quarter but has failed by 11 percentage points over the year.